East Coast Asset Management LLC. cut its stake in Deere & Company (NYSE:DE) by 14.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,377 shares of the industrial products company’s stock after selling 3,062 shares during the period. Deere & Company accounts for about 0.7% of East Coast Asset Management LLC.’s portfolio, making the stock its 23rd largest position. East Coast Asset Management LLC.’s holdings in Deere & Company were worth $2,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Spectrum Financial Alliance Ltd LLC raised its position in Deere & Company by 3.7% during the 2nd quarter. Spectrum Financial Alliance Ltd LLC now owns 42,558 shares of the industrial products company’s stock worth $5,950,000 after buying an additional 1,527 shares during the last quarter. Cozad Asset Management Inc. purchased a new position in Deere & Company during the 2nd quarter worth approximately $240,000. Salem Investment Counselors Inc. raised its position in Deere & Company by 82.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,108 shares of the industrial products company’s stock worth $155,000 after buying an additional 500 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in Deere & Company by 811.2% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 18,133 shares of the industrial products company’s stock worth $460,000 after buying an additional 16,143 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Deere & Company by 9.6% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 19,366 shares of the industrial products company’s stock worth $2,707,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 66.63% of the company’s stock.

NYSE:DE opened at $147.76 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 2.59. The company has a market cap of $47.54 billion, a PE ratio of 17.16, a PEG ratio of 2.74 and a beta of 0.86. Deere & Company has a 1-year low of $118.37 and a 1-year high of $175.26.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.16). The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.18 billion. Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. Deere & Company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the firm earned $1.97 earnings per share. analysts expect that Deere & Company will post 9.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, September 28th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 27th. Deere & Company’s dividend payout ratio (DPR) is 41.32%.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Deere & Company from $193.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, August 20th. UBS Group reduced their price target on shares of Deere & Company from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Deutsche Bank set a $155.00 price target on shares of Deere & Company and gave the stock a “hold” rating in a research report on Wednesday, September 5th. Wells Fargo & Co reduced their price target on shares of Deere & Company from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 20th. Finally, OTR Global lowered shares of Deere & Company to a “$139.21” rating in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Deere & Company presently has an average rating of “Buy” and a consensus price target of $177.75.

Deere & Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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