Requisite Capital Management LLC Sells 956 Shares of Deere & Company $DE

Requisite Capital Management LLC lessened its position in Deere & Company (NYSE:DE) by 66.2% in the fourth quarter, HoldingsChannel reports. The firm owned 489 shares of the industrial products company’s stock after selling 956 shares during the quarter. Requisite Capital Management LLC’s holdings in Deere & Company were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. RiverFront Investment Group LLC grew its position in shares of Deere & Company by 18.6% in the 4th quarter. RiverFront Investment Group LLC now owns 1,386 shares of the industrial products company’s stock worth $645,000 after buying an additional 217 shares during the period. Sapient Capital LLC increased its stake in shares of Deere & Company by 3.3% in the 4th quarter. Sapient Capital LLC now owns 28,435 shares of the industrial products company’s stock worth $13,409,000 after acquiring an additional 897 shares in the last quarter. North Dakota State Investment Board purchased a new position in Deere & Company during the 4th quarter valued at about $3,898,000. Rossmore Private Capital lifted its position in Deere & Company by 10.6% during the 4th quarter. Rossmore Private Capital now owns 16,748 shares of the industrial products company’s stock valued at $7,825,000 after acquiring an additional 1,600 shares during the period. Finally, Abacus Wealth Partners LLC boosted its stake in Deere & Company by 14.7% during the fourth quarter. Abacus Wealth Partners LLC now owns 817 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 105 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Bank of America raised their target price on shares of Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a research note on Wednesday, April 8th. DA Davidson raised their price objective on Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada lifted their price objective on Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $655.45.

Deere & Company Stock Up 0.1%

Shares of Deere & Company stock opened at $562.12 on Monday. The company has a 50-day simple moving average of $580.96 and a two-hundred day simple moving average of $537.44. The stock has a market capitalization of $151.83 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 18.01 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 36.53%.

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.