Deere & Company $DE Shares Sold by Forum Financial Management LP

Forum Financial Management LP decreased its holdings in shares of Deere & Company (NYSE:DE) by 19.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 12,111 shares of the industrial products company’s stock after selling 2,882 shares during the period. Forum Financial Management LP’s holdings in Deere & Company were worth $6,822,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $1,715,633,000. Capital World Investors lifted its position in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after acquiring an additional 1,893,972 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after acquiring an additional 1,721,239 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in shares of Deere & Company by 56,230.0% in the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock worth $343,961,000 after acquiring an additional 609,533 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $627.25 on Tuesday. The stock has a market cap of $169.32 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. The business has a fifty day simple moving average of $575.37 and a 200-day simple moving average of $559.08. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings results 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 for 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 revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.64 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays boosted their target price on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price target on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Bank of America reduced their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, DA Davidson dropped their target price on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Profile

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.