Deere & Company (NYSE:DE) Stock Position Decreased by XML Financial LLC

XML Financial LLC cut its position in shares of Deere & Company (NYSE:DE) by 26.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667 shares of the industrial products company’s stock after selling 244 shares during the period. XML Financial LLC’s holdings in Deere & Company were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Orion Capital Management LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $39,000. Dogwood Wealth Management LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $42,000. Wood Tarver Financial Group LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $48,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $513.86 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The firm has a market capitalization of $139.17 billion, a PE ratio of 24.86, a PEG ratio of 3.31 and a beta of 1.09. The business’s 50 day moving average is $496.05 and its 200-day moving average is $471.31. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

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

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Robert W. Baird raised their target price on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Evercore ISI raised their target price on Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Finally, UBS Group lowered their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $515.19.

About Deere & Company

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.