Brandywine Global Investment Management LLC Sells 161,161 Shares of Deere & Company $DE

Brandywine Global Investment Management LLC trimmed its position in Deere & Company (NYSE:DE) by 39.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,437 shares of the industrial products company’s stock after selling 161,161 shares during the quarter. Deere & Company accounts for 0.9% of Brandywine Global Investment Management LLC’s holdings, making the stock its 22nd biggest holding. Brandywine Global Investment Management LLC owned 0.09% of Deere & Company worth $127,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. OLD National Bancorp IN grew its position in Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after buying an additional 610 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after acquiring an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its position in shares of Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after acquiring an additional 813 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company during the 1st quarter valued at $13,588,000. Finally, United Asset Strategies Inc. acquired a new stake in shares of Deere & Company during the 1st quarter worth $2,496,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of analyst reports. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Jefferies Financial Group reduced their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Robert W. Baird dropped their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Wolfe Research cut their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Finally, Sanford C. Bernstein lifted their price objective on shares of Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $519.85.

Deere & Company Trading Up 0.4%

DE opened at $476.84 on Friday. The company has a market cap of $128.90 billion, a P/E ratio of 24.93, a PEG ratio of 3.05 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average is $465.99 and its 200-day moving average is $490.78. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Deere & Company 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.