Deere & Company $DE Position Reduced by Financial Security Advisor Inc.

Financial Security Advisor Inc. trimmed its stake in Deere & Company (NYSE:DE) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,659 shares of the industrial products company’s stock after selling 51 shares during the quarter. Financial Security Advisor Inc.’s holdings in Deere & Company were worth $843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DE. Assenagon Asset Management S.A. increased its holdings in Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of 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 valued at $12,204,000 after acquiring an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after acquiring an additional 798 shares during the period. Providence Capital Advisors LLC lifted its position in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares during the period. Finally, Bragg Financial Advisors Inc lifted its position in Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after purchasing an additional 813 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.1%

DE stock opened at $455.73 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $123.20 billion, a PE ratio of 23.82, a PEG ratio of 2.97 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The business’s 50 day simple moving average is $480.23 and its 200 day simple moving average is $488.58.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the business earned $6.29 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DE. DA Davidson cut 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. Jefferies Financial Group lowered their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $513.88.

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.