Weaver Capital Management LLC Sells 1,867 Shares of Deere & Company (NYSE:DE)

Weaver Capital Management LLC cut its stake in Deere & Company (NYSE:DE) by 73.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 672 shares of the industrial products company’s stock after selling 1,867 shares during the quarter. Weaver Capital Management LLC’s holdings in Deere & Company were worth $315,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the fourth quarter worth $39,000. Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $42,000. Wood Tarver Financial Group LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $43,000. Finally, Marquette Asset Management LLC bought a new stake in shares of Deere & Company during the first quarter worth $49,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

DE opened at $520.66 on Friday. The business’s 50-day moving average is $495.13 and its two-hundred day moving average is $470.56. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The firm has a market capitalization of $141.01 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.09.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm earned $8.53 earnings per share. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Raymond James Financial lifted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Evercore ISI lifted their target price on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Finally, Oppenheimer lifted their target price on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.