Interchange Capital Partners LLC Has $231,000 Position in Deere & Company $DE

Interchange Capital Partners LLC reduced its stake in Deere & Company (NYSE:DE) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454 shares of the industrial products company’s stock after selling 24 shares during the period. Interchange Capital Partners LLC’s holdings in Deere & Company were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $25,000. Activest Wealth Management boosted its stake in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new stake in shares of Deere & Company during the second quarter worth about $38,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $473.01 on Monday. The business’s 50 day simple moving average is $469.88 and its 200 day simple moving average is $489.27. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The stock has a market capitalization of $127.87 billion, a PE ratio of 24.73, a PEG ratio of 3.04 and a beta of 1.02. 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 announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the prior year, the business posted $6.29 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business 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 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DE shares. Daiwa Capital Markets reduced their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Royal Bank Of Canada started coverage on Deere & Company in a report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price target on the stock. Oppenheimer reduced their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Citigroup reduced their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Finally, Jefferies Financial Group reduced their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $518.72.

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.