Deere & Company (NYSE:DE) Shares Sold by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC cut its stake in shares of Deere & Company (NYSE:DE) by 63.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 908 shares of the industrial products company’s stock after selling 1,561 shares during the period. Outlook Wealth Advisors LLC’s holdings in Deere & Company were worth $373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Associates Ltd. increased its position in shares of Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after acquiring an additional 939 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Deere & Company by 2.4% in the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after buying an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in Deere & Company by 6.9% in the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after acquiring an additional 900 shares in the last quarter. Centric Wealth Management bought a new position in Deere & Company during the 3rd quarter valued at $2,640,000. Finally, Graham Capital Management L.P. grew its holdings in Deere & Company by 483.3% during the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 14,500 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Citigroup cut their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Evercore ISI lifted their target price on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Morgan Stanley assumed coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. Finally, Stifel Nicolaus reduced their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

Shares of DE stock traded down $0.73 during trading hours on Friday, reaching $393.33. The stock had a trading volume of 998,338 shares, compared to its average volume of 1,243,125. The firm has a market capitalization of $109.49 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The firm has a 50-day simple moving average of $387.86 and a 200-day simple moving average of $383.61. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.55 earnings per share. As a group, equities analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.