Orion Portfolio Solutions LLC Sells 1,044 Shares of Deere & Company (NYSE:DE)

Orion Portfolio Solutions LLC lowered its holdings in shares of Deere & Company (NYSE:DEGet Rating) by 14.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,375 shares of the industrial products company’s stock after selling 1,044 shares during the period. Orion Portfolio Solutions LLC’s holdings in Deere & Company were worth $1,909,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Clark Capital Management Group Inc. lifted its position in shares of Deere & Company by 15.2% in the 4th quarter. Clark Capital Management Group Inc. now owns 775 shares of the industrial products company’s stock worth $266,000 after purchasing an additional 102 shares during the period. Mutual Advisors LLC boosted its stake in Deere & Company by 7.4% during the 4th quarter. Mutual Advisors LLC now owns 2,992 shares of the industrial products company’s stock valued at $1,026,000 after purchasing an additional 206 shares during the last quarter. ETF Managers Group LLC boosted its stake in Deere & Company by 5.0% during the 4th quarter. ETF Managers Group LLC now owns 1,830 shares of the industrial products company’s stock valued at $626,000 after purchasing an additional 87 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Deere & Company by 5.1% during the 4th quarter. IHT Wealth Management LLC now owns 2,943 shares of the industrial products company’s stock valued at $1,009,000 after purchasing an additional 144 shares during the last quarter. Finally, Banco de Sabadell S.A purchased a new position in shares of Deere & Company in the 4th quarter worth $218,000. Institutional investors own 75.34% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $346.13 on Friday. Deere & Company has a twelve month low of $283.81 and a twelve month high of $446.76. The stock’s 50 day moving average is $351.72 and its two-hundred day moving average is $362.79. The firm has a market capitalization of $104.47 billion, a PE ratio of 17.30, a P/E/G ratio of 1.21 and a beta of 1.06. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 1.69.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings results on Friday, August 19th. The industrial products company reported $6.16 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.45). The firm had revenue of $13 billion for the quarter, compared to analysts’ expectations of $12.84 billion. Deere & Company had a return on equity of 33.26% and a net margin of 12.75%. Deere & Company’s revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm earned $5.32 EPS. Research analysts anticipate that Deere & Company will post 22.94 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 8th. Stockholders of record on Friday, September 30th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, September 29th. Deere & Company’s dividend payout ratio (DPR) is 22.59%.

Insider Transactions at Deere & Company

In related news, CAO Marc A. Howze sold 4,019 shares of Deere & Company stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $373.22, for a total transaction of $1,499,971.18. Following the completion of the transaction, the chief accounting officer now directly owns 17,321 shares in the company, valued at approximately $6,464,543.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DE. Bank of America raised their price target on Deere & Company from $335.00 to $381.00 in a research note on Sunday, August 21st. Wells Fargo & Company raised their price target on Deere & Company from $410.00 to $423.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Morgan Stanley raised their price target on Deere & Company from $416.00 to $424.00 and gave the company an “overweight” rating in a report on Sunday, August 21st. JPMorgan Chase & Co. reduced their target price on Deere & Company from $370.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, July 12th. Finally, Citigroup lifted their target price on Deere & Company from $340.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $407.68.

Deere & Company Profile

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

Further Reading

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

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