GLOBALT Investments LLC GA Reduces Stake in Deere & Company $DE

GLOBALT Investments LLC GA decreased its position in Deere & Company (NYSE:DE) by 4.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 994 shares of the industrial products company’s stock after selling 44 shares during the period. GLOBALT Investments LLC GA’s holdings in Deere & Company were worth $505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after acquiring an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Deere & Company by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after purchasing an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Deere & Company by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after purchasing an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several recent research reports. Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. Wolfe Research dropped their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Royal Bank Of Canada initiated coverage on shares of Deere & Company in a research note on Wednesday. They issued an “outperform” rating and a $542.00 target price for the company. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Daiwa Capital Markets cut their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Trading Up 0.8%

Shares of DE stock opened at $473.01 on Friday. The firm’s 50-day simple moving average is $469.88 and its 200-day simple moving average is $488.49. 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 has a 1-year low of $387.03 and a 1-year high of $533.78. The firm has a market cap of $127.87 billion, a P/E ratio of 24.73, a PEG ratio of 3.02 and a beta of 1.02.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) 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.