Outfitter Financial LLC Sells 665 Shares of Deere & Company $DE

Outfitter Financial LLC lowered its position in Deere & Company (NYSE:DE) by 16.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,335 shares of the industrial products company’s stock after selling 665 shares during the quarter. Deere & Company accounts for about 1.4% of Outfitter Financial LLC’s holdings, making the stock its 23rd largest position. Outfitter Financial LLC’s holdings in Deere & Company were worth $1,696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after acquiring an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after acquiring an additional 35,075 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Deere & Company by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after acquiring an additional 25,725 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on DE shares. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Citigroup cut their target price on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Royal Bank Of Canada initiated coverage on Deere & Company in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price for the company. Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. Finally, DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Trading Up 1.2%

Shares of DE opened at $473.91 on Thursday. The stock has a fifty day moving average price of $466.41 and a two-hundred day moving average price of $490.01. 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 has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a market cap of $128.11 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the company posted $6.29 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. Analysts predict 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. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

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.