Deere & Company $DE Stake Lowered by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC cut its stake in shares of Deere & Company (NYSE:DE) by 7.3% in the 2nd quarter, Holdings Channel reports. The firm owned 2,212 shares of the industrial products company’s stock after selling 175 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Deere & Company were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Activest Wealth Management grew its holdings in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the second quarter valued at approximately $39,000. Finally, Orion Capital Management LLC bought a new position in Deere & Company in the 4th quarter worth approximately $34,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $468.62 on Wednesday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The stock has a fifty day moving average of $495.76 and a 200-day moving average of $490.16. The company has a market capitalization of $126.68 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the firm earned $6.29 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DE. Oppenheimer increased their price objective on Deere & Company from $560.00 to $566.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Citigroup decreased their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, DA Davidson decreased their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $520.87.

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.