Deere & Company (NYSE:DE) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in Deere & Company (NYSE:DE) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,609 shares of the industrial products company’s stock after selling 364 shares during the quarter. Brown Advisory Inc.’s holdings in Deere & Company were worth $23,753,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company in the 4th quarter worth approximately $39,000. Dogwood Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $43,000. Finally, Citizens National Bank Trust Department purchased a new stake in shares of Deere & Company in the first quarter valued at approximately $45,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.3%

NYSE:DE opened at $510.35 on Thursday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The stock’s fifty day moving average is $509.35 and its two-hundred day moving average is $476.92. The stock has a market capitalization of $138.22 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the company earned $8.53 EPS. Deere & Company’s revenue was down 17.9% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

Analyst Upgrades and Downgrades

DE has been the topic of a number of analyst reports. Barclays lifted their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Citigroup decreased their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $515.19.

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.