Levin Capital Strategies L.P. Sells 2,329 Shares of Deere & Company (NYSE:DE)

Levin Capital Strategies L.P. reduced its position in Deere & Company (NYSE:DE) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,628 shares of the industrial products company’s stock after selling 2,329 shares during the quarter. Deere & Company makes up about 1.9% of Levin Capital Strategies L.P.’s portfolio, making the stock its 15th largest position. Levin Capital Strategies L.P.’s holdings in Deere & Company were worth $17,445,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Diamant Asset Management Inc. boosted its stake in shares of Deere & Company by 2.3% in the 1st quarter. Diamant Asset Management Inc. now owns 1,217 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 27 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in Deere & Company by 2.2% during the first quarter. TCI Wealth Advisors Inc. now owns 1,327 shares of the industrial products company’s stock worth $496,000 after acquiring an additional 29 shares in the last quarter. Foster Group Inc. boosted its stake in Deere & Company by 2.4% during the first quarter. Foster Group Inc. now owns 1,296 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 30 shares in the last quarter. ProVise Management Group LLC boosted its stake in Deere & Company by 2.2% during the first quarter. ProVise Management Group LLC now owns 1,380 shares of the industrial products company’s stock worth $516,000 after acquiring an additional 30 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in Deere & Company by 3.4% during the fourth quarter. Flagship Harbor Advisors LLC now owns 962 shares of the industrial products company’s stock worth $259,000 after acquiring an additional 32 shares in the last quarter. 66.77% of the stock is currently owned by institutional investors.

Shares of DE stock opened at $384.00 on Friday. The firm has a 50-day moving average of $377.49 and a 200-day moving average of $313.54. The company has a market cap of $120.36 billion, a P/E ratio of 44.14, a P/E/G ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.24 and a quick ratio of 2.03. Deere & Company has a one year low of $124.69 and a one year high of $400.34.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $1.70. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, research analysts expect that Deere & Company will post 13.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 10th. Investors of record on Wednesday, March 31st were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Tuesday, March 30th. This is an increase from Deere & Company’s previous quarterly dividend of $0.76. Deere & Company’s dividend payout ratio (DPR) is 41.43%.

Several brokerages recently issued reports on DE. Citigroup increased their target price on shares of Deere & Company from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday. Credit Suisse Group increased their target price on shares of Deere & Company from $343.00 to $403.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Wolfe Research began coverage on shares of Deere & Company in a research note on Monday, April 19th. They set an “outperform” rating and a $425.00 target price on the stock. Argus increased their target price on shares of Deere & Company from $280.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, March 1st. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $331.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, March 1st. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Deere & Company currently has an average rating of “Buy” and an average target price of $341.17.

Deere & Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

Read More: Return on Investment (ROI)

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

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