Baring Financial LLC Has $329,000 Holdings in Deere & Company (NYSE:DE)

Baring Financial LLC cut its position in Deere & Company (NYSE:DE) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 701 shares of the industrial products company’s stock after selling 53 shares during the quarter. Baring Financial LLC’s holdings in Deere & Company were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Norges Bank acquired a new position in Deere & Company in the 4th quarter valued at $1,244,094,000. Castlekeep Investment Advisors LLC bought a new stake in Deere & Company in the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. FMR LLC boosted its holdings in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Deere & Company in the 4th quarter valued at $296,232,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on DE shares. Barclays increased their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Oppenheimer increased their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. UBS Group reduced their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Finally, Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $516.75.

Deere & Company Price Performance

NYSE:DE opened at $503.07 on Friday. The company has a 50-day moving average of $475.02 and a 200-day moving average of $461.23. The company has a market capitalization of $136.54 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the company posted $8.53 EPS. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

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.