Deere & Company (NYSE:DE) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC cut its stake in Deere & Company (NYSE:DE) by 31.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,894 shares of the industrial products company’s stock after selling 869 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Deere & Company were worth $889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DE. Brighton Jones LLC boosted its stake in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Asset Planning Inc acquired a new stake in Deere & Company in the 4th quarter worth approximately $51,000. Valeo Financial Advisors LLC boosted its stake in Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares in the last quarter. Quadrant Private Wealth Management LLC raised its position in Deere & Company by 11.8% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 1,014 shares of the industrial products company’s stock worth $431,000 after buying an additional 107 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new position in Deere & Company during the 4th quarter worth approximately $1,219,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DE. JPMorgan Chase & Co. raised 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. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. UBS Group reduced their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Morgan Stanley raised their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $515.19.

Deere & Company Trading Down 1.5%

Shares of DE opened at $509.04 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm’s fifty day moving average is $487.24 and its two-hundred day moving average is $468.53. The stock has a market cap of $137.86 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 EPS. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

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.