Brookwood Investment Group LLC Lowers Stock Position in Deere & Company $DE

Brookwood Investment Group LLC lessened its holdings in Deere & Company (NYSE:DE) by 23.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,242 shares of the industrial products company’s stock after selling 371 shares during the period. Brookwood Investment Group LLC’s holdings in Deere & Company were worth $632,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. CCLA Investment Management lifted its position in shares of Deere & Company by 0.4% in the 2nd quarter. CCLA Investment Management now owns 203,616 shares of the industrial products company’s stock worth $103,469,000 after purchasing an additional 866 shares during the period. First Command Advisory Services Inc. lifted its position in Deere & Company by 8.9% during the second quarter. First Command Advisory Services Inc. now owns 610 shares of the industrial products company’s stock valued at $310,000 after acquiring an additional 50 shares during the last quarter. Banco Santander S.A. lifted its position in Deere & Company by 45.8% during the second quarter. Banco Santander S.A. now owns 25,810 shares of the industrial products company’s stock valued at $13,124,000 after acquiring an additional 8,105 shares during the last quarter. Solstein Capital LLC lifted its position in Deere & Company by 93.8% during the second quarter. Solstein Capital LLC now owns 93 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 45 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Deere & Company by 35.7% during the second quarter. Envestnet Asset Management Inc. now owns 536,917 shares of the industrial products company’s stock valued at $273,017,000 after acquiring an additional 141,293 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Deere & Company in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price for the company. DA Davidson decreased their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Wolfe Research decreased their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Finally, Robert W. Baird cut their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Stock Up 1.1%

NYSE:DE opened at $477.76 on Tuesday. The firm has a market capitalization of $129.15 billion, a P/E ratio of 24.97, a PEG ratio of 3.04 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company’s fifty day moving average price is $469.62 and its 200-day moving average price is $489.44. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.29 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

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.