Calamos Wealth Management LLC Lowers Holdings in Deere & Company $DE

Calamos Wealth Management LLC decreased its holdings in Deere & Company (NYSE:DE) by 14.4% in the first quarter, HoldingsChannel.com reports. The fund owned 25,710 shares of the industrial products company’s stock after selling 4,309 shares during the quarter. Calamos Wealth Management LLC’s holdings in Deere & Company were worth $14,482,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Strategic Advocates LLC bought a new position in Deere & Company in the 3rd quarter worth approximately $25,000. Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $32,000. Key Capital Management INC bought a new stake in Deere & Company in the fourth quarter worth $27,000. Timmons Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at $29,000. Finally, McIlrath & Eck LLC purchased a new stake in Deere & Company during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DE shares. Citigroup dropped their price objective on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. JPMorgan Chase & Co. upped their target price 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. Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Raymond James Financial reduced their price objective on 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 analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company Stock Performance

DE stock opened at $586.06 on Tuesday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business has a 50-day moving average price of $581.64 and a 200 day moving average price of $568.53. The company has a market capitalization of $158.20 billion, a P/E ratio of 33.20, a PEG ratio of 2.17 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $6.64 EPS. As a group, equities research analysts forecast that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date 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 (DPR) is currently 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.