Deere & Company (NYSE:DE) Shares Sold by Motco

Motco trimmed its holdings in shares of Deere & Company (NYSE:DE) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,828 shares of the industrial products company’s stock after selling 89 shares during the period. Motco’s holdings in Deere & Company were worth $1,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hughes Financial Services LLC bought a new stake in shares of Deere & Company in the 1st quarter worth $29,000. Cornerstone Planning Group LLC boosted its holdings in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new position in Deere & Company in the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the fourth quarter worth approximately $39,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Deere & Company in the first quarter valued at $45,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have 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 stock a “neutral” rating in a research note on Friday, May 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. UBS Group cut their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $515.50.

Deere & Company Price Performance

DE opened at $517.58 on Friday. The stock has a fifty day moving average price of $513.03 and a 200 day moving average price of $484.29. 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 has a 1 year low of $340.20 and a 1 year high of $533.78. The stock has a market cap of $140.18 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.28 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its quarterly 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 company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the business earned $8.53 EPS. Analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

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.