Deere & Company $DE Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in Deere & Company (NYSE:DE) by 15.9% in the fourth quarter, HoldingsChannel reports. The fund owned 9,792 shares of the industrial products company’s stock after selling 1,850 shares during the quarter. Intech Investment Management LLC’s holdings in Deere & Company were worth $4,559,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Cary Street Partners Financial LLC lifted its stake in Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC lifted its stake in Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its stake in Deere & Company by 66.1% during the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after purchasing an additional 10,974 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after purchasing an additional 2,702 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Deere & Company by 263.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company’s stock valued at $7,942,000 after purchasing an additional 12,551 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. BMO Capital Markets increased their target price on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. DA Davidson cut their target price on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. UBS Group increased their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Barclays boosted their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $638.08.

Deere & Company Stock Up 0.0%

DE stock opened at $542.34 on Monday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company’s 50 day simple moving average is $572.29 and its 200-day simple moving average is $542.55. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm has a market capitalization of $146.40 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.01 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the business earned $6.64 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Deere & 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.