CX Institutional Reduces Stake in Deere & Company (NYSE:DE)

CX Institutional decreased its holdings in shares of Deere & Company (NYSE:DE) by 33.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,575 shares of the industrial products company’s stock after selling 5,769 shares during the quarter. CX Institutional’s holdings in Deere & Company were worth $4,830,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. lifted its position in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after acquiring an additional 372 shares in the last quarter. Aviance Capital Partners LLC purchased a new stake in Deere & Company in the first quarter valued at $2,783,000. Range Financial Group LLC lifted its position in Deere & Company by 5.2% in the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 27 shares during the last quarter. Finally, Royal Fund Management LLC boosted its stake in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $402.05 on Wednesday. The firm has a market capitalization of $110.79 billion, a PE ratio of 12.10, a P/E/G ratio of 1.35 and a beta of 0.92. The stock’s 50 day moving average is $389.39 and its two-hundred day moving average is $385.19. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned $10.20 earnings per share. Research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.