Intech Investment Management LLC Reduces Stock Position in Deere & Company $DE

Intech Investment Management LLC lowered its stake in Deere & Company (NYSE:DE) by 13.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,290 shares of the industrial products company’s stock after selling 1,625 shares during the quarter. Intech Investment Management LLC’s holdings in Deere & Company were worth $4,830,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in shares of Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares during the period. Tyler Stone Wealth Management raised its position in shares of Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 21 shares during the period. Sunbelt Securities Inc. raised its position in shares of Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 22 shares during the period. Hayek Kallen Investment Management raised its position in shares of Deere & Company by 1.7% during the 1st quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 22 shares during the period. Finally, First Bancorp Inc ME raised its position in shares of Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 23 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on DE shares. Citigroup decreased their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Oppenheimer raised their target price on shares of Deere & Company from $560.00 to $566.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Barclays lifted their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $520.87.

Deere & Company Price Performance

DE stock opened at $471.35 on Friday. Deere & Company has a 12 month low of $386.42 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $497.38 and a 200 day moving average price of $490.24. The stock has a market cap of $127.42 billion, a PE ratio of 24.64, a P/E/G ratio of 3.06 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the company earned $6.29 EPS. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Deere & Company Company Profile

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.