Weybosset Research & Management LLC Lowers Stock Holdings in Deere & Company $DE

Weybosset Research & Management LLC reduced its position in shares of Deere & Company (NYSE:DE) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 46,383 shares of the industrial products company’s stock after selling 1,177 shares during the quarter. Deere & Company comprises approximately 7.5% of Weybosset Research & Management LLC’s portfolio, making the stock its 3rd biggest holding. Weybosset Research & Management LLC’s holdings in Deere & Company were worth $26,128,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sterling Investment Counsel LLC grew its holdings in Deere & Company by 2.4% in the 1st quarter. Sterling Investment Counsel LLC now owns 1,638 shares of the industrial products company’s stock valued at $923,000 after buying an additional 39 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Deere & Company by 36.2% during the first quarter. Brookstone Capital Management now owns 5,315 shares of the industrial products company’s stock worth $2,994,000 after buying an additional 1,413 shares in the last quarter. Petredis Investment Advisors LLC acquired a new stake in shares of Deere & Company during the first quarter worth $3,803,000. Evolve Private Wealth LLC boosted its position in shares of Deere & Company by 73.4% in the first quarter. Evolve Private Wealth LLC now owns 1,741 shares of the industrial products company’s stock valued at $981,000 after acquiring an additional 737 shares during the period. Finally, Guardian Investment Management boosted its position in shares of Deere & Company by 1.3% in the first quarter. Guardian Investment Management now owns 1,598 shares of the industrial products company’s stock valued at $900,000 after acquiring an additional 20 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on DE shares. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Barclays boosted their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Raymond James Financial decreased their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Finally, Morgan Stanley lifted their price target on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Stock Up 0.2%

DE stock opened at $590.37 on Monday. The company has a market cap of $159.36 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. The business has a 50-day simple moving average of $573.71 and a 200 day simple moving average of $553.26. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.64 earnings per share. Sell-side analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is presently 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.