Entropy Technologies LP Sells 13,881 Shares of Deere & Company $DE

Entropy Technologies LP decreased its holdings in shares of Deere & Company (NYSE:DE) by 70.0% during the fourth quarter, HoldingsChannel reports. The fund owned 5,942 shares of the industrial products company’s stock after selling 13,881 shares during the quarter. Entropy Technologies LP’s holdings in Deere & Company were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in Deere & Company by 26.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 215,651 shares of the industrial products company’s stock valued at $100,401,000 after acquiring an additional 45,524 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Deere & Company during the 4th quarter valued at $3,227,000. Aptus Capital Advisors LLC raised its holdings in Deere & Company by 2.3% during the 4th quarter. Aptus Capital Advisors LLC now owns 45,547 shares of the industrial products company’s stock valued at $21,206,000 after acquiring an additional 1,014 shares during the period. Jacobi Capital Management LLC raised its holdings in Deere & Company by 6.3% during the 4th quarter. Jacobi Capital Management LLC now owns 6,134 shares of the industrial products company’s stock valued at $2,856,000 after acquiring an additional 364 shares during the period. Finally, FORA Capital LLC raised its holdings in Deere & Company by 5.9% during the 4th quarter. FORA Capital LLC now owns 2,153 shares of the industrial products company’s stock valued at $1,002,000 after acquiring an additional 119 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of a number of analyst reports. UBS Group boosted their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. BMO Capital Markets boosted their target price on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. DA Davidson lowered their target price on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, Citigroup lowered their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Down 0.1%

Shares of NYSE:DE opened at $577.05 on Monday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The firm has a fifty day moving average of $573.27 and a 200 day moving average of $549.31. The firm has a market capitalization of $155.77 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $11.55 billion. During the same period in the previous year, the business earned $6.64 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is 36.71%.

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.