Exchange Traded Concepts LLC Sells 3,144 Shares of Deere & Company $DE

Exchange Traded Concepts LLC lowered its stake in Deere & Company (NYSE:DE) by 10.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 27,794 shares of the industrial products company’s stock after selling 3,144 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Deere & Company were worth $14,133,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of DE. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new position in Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares during the period. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 2nd quarter worth approximately $39,000. Finally, Orion Capital Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $34,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DE shares. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. DA Davidson dropped their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Oppenheimer lowered 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. 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. Finally, Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.27.

Deere & Company Price Performance

Shares of NYSE DE opened at $476.18 on Friday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock’s 50 day moving average price is $494.07 and its 200-day moving average price is $490.09. The company has a market capitalization of $128.73 billion, a PE ratio of 24.89, a PEG ratio of 3.02 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company Dividend Announcement

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

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.