Robertson Stephens Wealth Management LLC Reduces Holdings in Deere & Company $DE

Robertson Stephens Wealth Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 11.4% during the second quarter, HoldingsChannel reports. The firm owned 867 shares of the industrial products company’s stock after selling 112 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Deere & Company were worth $442,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in shares of Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares in the last quarter. OLD National Bancorp IN grew its position in shares of Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after buying an additional 610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after buying an additional 798 shares in the last quarter. Providence Capital Advisors LLC grew its position in shares of Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after buying an additional 303 shares in the last quarter. Finally, Bragg Financial Advisors Inc grew its position in shares of Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday. Citigroup decreased their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. Oppenheimer decreased their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Finally, Robert W. Baird decreased their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $513.88.

Deere & Company Stock Performance

Deere & Company stock opened at $446.76 on Friday. The company has a market cap of $120.77 billion, a PE ratio of 23.35, a P/E/G ratio of 2.87 and a beta of 1.02. The company has a fifty day moving average price of $479.15 and a two-hundred day moving average price of $488.39. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.29 earnings per share. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. Deere & Company’s payout ratio is 33.87%.

Deere & 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.