Deere & Company (NYSE:DE) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 3.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,534,036 shares of the industrial products company’s stock after selling 56,017 shares during the quarter. Goldman Sachs Group Inc. owned 0.57% of Deere & Company worth $720,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Sunbelt Securities Inc. lifted its stake in Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 22 shares during the last quarter. First Bancorp Inc ME raised its holdings in Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 23 shares in the last quarter. Leisure Capital Management lifted its position in shares of Deere & Company by 0.8% during the 1st quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company’s stock worth $1,355,000 after buying an additional 23 shares during the last quarter. World Equity Group Inc. boosted its holdings in shares of Deere & Company by 4.5% in the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company’s stock valued at $244,000 after buying an additional 24 shares in the last quarter. Finally, Bank of Jackson Hole Trust boosted its holdings in shares of Deere & Company by 1.8% in the 1st quarter. Bank of Jackson Hole Trust now owns 1,322 shares of the industrial products company’s stock valued at $636,000 after buying an additional 24 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.3%

DE opened at $509.86 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a market cap of $138.09 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.22 and a beta of 1.06. Deere & Company has a one year low of $343.38 and a one year high of $533.78. The business’s fifty day moving average is $512.29 and its two-hundred day moving average is $488.40.

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

Deere & Company Dividend Announcement

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 issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DE shares. Bank of America boosted their price target 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. Morgan Stanley upped their target price on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Raymond James Financial boosted their price objective on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, BMO Capital Markets restated a “market perform” rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.