Deere & Company $DE Shares Sold by DB Fitzpatrick & Co Inc

DB Fitzpatrick & Co Inc trimmed its position in shares of Deere & Company (NYSE:DE) by 35.5% in the first quarter, HoldingsChannel.com reports. The fund owned 2,185 shares of the industrial products company’s stock after selling 1,202 shares during the period. DB Fitzpatrick & Co Inc’s holdings in Deere & Company were worth $1,231,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Anchyra Partners LLC lifted its position in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. grew its holdings in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after purchasing an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC increased its stake in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after buying an additional 19 shares in the last quarter. Finally, Root Financial Partners LLC lifted its holdings in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock worth $410,000 after buying an additional 19 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the subject of several recent research reports. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Oppenheimer reiterated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Robert W. Baird decreased their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company Trading Down 1.0%

NYSE DE opened at $621.09 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. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The stock has a market capitalization of $167.66 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. The firm has a 50 day moving average of $577.59 and a two-hundred day moving average of $562.28.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $6.64 EPS. As a group, research analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced 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. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Deere & Company 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.