Deere & Company (NYSE:DE) Position Cut by Phoenix Financial Ltd.

Phoenix Financial Ltd. trimmed its holdings in Deere & Company (NYSE:DE) by 24.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166 shares of the industrial products company’s stock after selling 381 shares during the quarter. Phoenix Financial Ltd.’s holdings in Deere & Company were worth $549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its position in shares of Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 22 shares during the last quarter. First Bancorp Inc ME lifted its position in shares of Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 23 shares during the last quarter. World Equity Group Inc. lifted its position in shares of Deere & Company by 4.5% during the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of Deere & Company by 2.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 25 shares during the last quarter. Finally, Glen Eagle Advisors LLC lifted its position in shares of Deere & Company by 0.9% during the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock valued at $1,244,000 after acquiring an additional 25 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $517.58 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The firm has a market capitalization of $140.18 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a fifty day moving average of $513.03 and a 200-day moving average of $484.29.

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

Deere & Company Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Oppenheimer set a $560.00 target price on Deere & Company and gave the company an “outperform” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have issued 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, the stock presently has an average rating of “Hold” and a consensus price target of $515.50.

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.