Deere & Company $DE Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its holdings in Deere & Company (NYSE:DE) by 46.9% during the 1st quarter, Holdings Channel reports. The firm owned 38,873 shares of the industrial products company’s stock after selling 34,382 shares during the quarter. NewEdge Advisors LLC’s holdings in Deere & Company were worth $21,897,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after buying an additional 198,332 shares during the last quarter. State Street Corp raised its holdings in shares of Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock worth $4,898,717,000 after acquiring an additional 97,049 shares during the last quarter. Capital World Investors raised its holdings in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after acquiring an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Deere & Company by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after acquiring an additional 17,269 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. DA Davidson reiterated a “buy” rating and set a $685.00 price objective on shares of Deere & Company in a research report on Friday, July 17th. Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Finally, Raymond James Financial reduced their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company Stock Up 1.2%

DE opened at $622.04 on Friday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The business has a 50-day moving average of $599.58 and a two-hundred day moving average of $584.43. 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 stock has a market capitalization of $167.91 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share 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 business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the firm posted $6.64 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio is 36.71%.

Deere & Company 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.