Deere & Company $DE Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 4.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 78,373 shares of the industrial products company’s stock after selling 3,923 shares during the quarter. Guggenheim Capital LLC’s holdings in Deere & Company were worth $36,784,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DE. Hughes Financial Services LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC increased its stake in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the period. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $488.59 on Wednesday. The business’s fifty day moving average price is $507.17 and its 200 day moving average price is $490.91. Deere & Company has a 12-month low of $374.46 and a 12-month high of $533.78. The stock has a market capitalization of $132.32 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.13 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the business posted $6.29 earnings per share. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Raymond James Financial increased 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. Citigroup dropped their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Finally, Barclays increased their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $523.87.

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.