AlphaCore Capital LLC Sells 2,520 Shares of Deere & Company (NYSE:DE)

AlphaCore Capital LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 54.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,114 shares of the industrial products company’s stock after selling 2,520 shares during the quarter. AlphaCore Capital LLC’s holdings in Deere & Company were worth $899,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Capital World Investors lifted its position in Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the period. FMR LLC lifted its position in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC lifted its position in Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the period. Finally, Norges Bank bought a new position in Deere & Company in the fourth quarter worth $1,244,094,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.1%

DE opened at $509.83 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $138.37 billion, a PE ratio of 22.60, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The firm has a 50-day moving average price of $472.60 and a two-hundred day moving average price of $458.36.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company earned $8.53 EPS. As a group, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were given a $1.62 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company’s payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. Raymond James upped their price target on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America upped their price target on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $516.75.

About Deere & Company

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.