Cumberland Partners Ltd Lowers Stake in Deere & Company $DE

Cumberland Partners Ltd cut its stake in Deere & Company (NYSE:DE) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,551 shares of the industrial products company’s stock after selling 872 shares during the period. Cumberland Partners Ltd’s holdings in Deere & Company were worth $3,127,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Deere & Company during the second quarter worth approximately $2,153,000. NewEdge Advisors LLC increased its position in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC raised its stake in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $628.32 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $169.61 billion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a 50 day moving average of $585.05 and a two-hundred day moving average of $576.08.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the firm earned $6.64 EPS. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DE. Barclays boosted their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. DA Davidson restated a “buy” rating and set a $685.00 price objective on shares of Deere & Company in a report on Friday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. JPMorgan Chase & Co. increased their price target on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a research report on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $642.98.

About Deere & Company

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.