Rhumbline Advisers Trims Holdings in Deere & Company $DE

Rhumbline Advisers lessened its stake in Deere & Company (NYSE:DE) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 466,930 shares of the industrial products company’s stock after selling 19,920 shares during the period. Rhumbline Advisers’ holdings in Deere & Company were worth $237,429,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DE. OLD National Bancorp IN grew its stake in Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares in the last quarter. Providence Capital Advisors LLC raised its stake in Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after buying an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Deere & Company in the 1st quarter worth approximately $13,588,000. Finally, United Asset Strategies Inc. bought a new stake in shares of Deere & Company in the 1st quarter valued at approximately $2,496,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Daiwa Capital Markets reduced their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Oppenheimer dropped their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday, October 28th. Jefferies Financial Group dropped their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein lifted their target price on Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $519.85.

Deere & Company Trading Up 2.2%

Deere & Company stock opened at $487.03 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $466.30 and a two-hundred day moving average price of $490.82. The firm has a market capitalization of $131.66 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.05 and a beta of 1.04. Deere & Company has a 52-week low of $403.01 and a 52-week high of $533.78.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company’s payout ratio is currently 33.87%.

Deere & Company 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.