Renaissance Technologies LLC Sells 798 Shares of Deere & Company $DE

Renaissance Technologies LLC decreased its stake in Deere & Company (NYSE:DE) by 0.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 181,942 shares of the industrial products company’s stock after selling 798 shares during the period. Renaissance Technologies LLC’s holdings in Deere & Company were worth $102,488,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth $1,715,633,000. Capital World Investors boosted its stake in shares of Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Deere & Company by 1,725.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after purchasing an additional 1,893,972 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. Finally, Diamant Asset Management Inc. increased its position in shares of Deere & Company by 56,230.0% during the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock worth $343,961,000 after purchasing an additional 609,533 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 3.0%

Shares of NYSE:DE opened at $628.32 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of $169.61 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.65 and a beta of 0.89. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company’s 50-day moving average price is $585.05 and its two-hundred day moving average price is $576.08.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the firm posted $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 18.28 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Wolfe Research increased their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Finally, Citigroup raised their price target on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company Profile

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.