Deere & Company $DE Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in Deere & Company (NYSE:DE) by 12.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,712 shares of the industrial products company’s stock after selling 1,260 shares during the period. Los Angeles Capital Management LLC’s holdings in Deere & Company were worth $4,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cary Street Partners Financial LLC lifted its holdings in shares of Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its holdings in shares of Deere & Company by 55.8% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares during the period. Compagnie Lombard Odier SCmA lifted its holdings in shares of Deere & Company by 66.1% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after buying an additional 10,974 shares during the period. Westpac Banking Corp lifted its holdings in shares of Deere & Company by 78.6% in the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Deere & Company by 14.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock worth $9,682,000 after purchasing an additional 2,702 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DE. DA Davidson lowered their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Robert W. Baird lowered their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Wolfe Research increased their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Raymond James Financial lowered their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Finally, Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Performance

Shares of DE stock opened at $578.07 on Wednesday. The company has a market capitalization of $156.04 billion, a P/E ratio of 32.75, a P/E/G ratio of 2.13 and a beta of 0.92. The business’s 50 day moving average is $572.93 and its two-hundred day moving average is $547.52. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the prior year, the firm earned $6.64 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that Deere & Company will post 18.1 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is presently 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.