Pacer Advisors Inc. Sells 7,105 Shares of Deere & Company $DE

Pacer Advisors Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE) by 35.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,691 shares of the industrial products company’s stock after selling 7,105 shares during the quarter. Pacer Advisors Inc.’s holdings in Deere & Company were worth $7,149,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DE. Key Capital Management INC bought a new stake in Deere & Company in the 4th quarter valued at $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Portus Wealth Advisors LLC acquired a new stake in Deere & Company in the first quarter valued at $32,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the 3rd quarter valued at about $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $611.87 on Thursday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The firm has a market cap of $165.17 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. The firm’s fifty day moving average is $596.49 and its 200-day moving average is $583.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.64 earnings per share. Sell-side analysts predict that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a report on Wednesday, April 8th. Raymond James Financial reduced their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Robert W. Baird dropped their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, DA Davidson restated a “buy” rating and issued a $685.00 target price on shares of Deere & Company in a research report on Friday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $642.98.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.