Perigon Wealth Management LLC Sells 1,135 Shares of Deere & Company (NYSE:DE)

Perigon Wealth Management LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 6.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,539 shares of the industrial products company’s stock after selling 1,135 shares during the period. Perigon Wealth Management LLC’s holdings in Deere & Company were worth $8,232,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DE. Norges Bank acquired a new position in shares of Deere & Company during the 4th quarter valued at $1,244,094,000. GAMMA Investing LLC lifted its position in shares of Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD lifted its position in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Finally, FMR LLC lifted its position in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Bank of America boosted their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Robert W. Baird boosted their target price on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Morgan Stanley upped their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Raymond James Financial upped their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

Shares of NYSE DE opened at $506.87 on Thursday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The stock’s 50 day moving average price is $498.19 and its 200-day moving average price is $471.85. The company has a market capitalization of $137.28 billion, a PE ratio of 24.52, a PEG ratio of 3.26 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

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.