Formuepleje A S Sells 1,015 Shares of Deere & Company $DE

Formuepleje A S trimmed its position in shares of Deere & Company (NYSE:DE) by 23.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,316 shares of the industrial products company’s stock after selling 1,015 shares during the quarter. Formuepleje A S’s holdings in Deere & Company were worth $2,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baxter Bros Inc. purchased a new position in shares of Deere & Company during the second quarter valued at approximately $1,707,000. Global Retirement Partners LLC purchased a new position in Deere & Company in the 2nd quarter worth approximately $3,890,000. Nykredit A S purchased a new position in Deere & Company in the 2nd quarter worth approximately $44,378,000. TRB Wealth Management LLC bought a new position in Deere & Company in the 2nd quarter valued at approximately $623,000. Finally, Pacific Sage Partners LLC bought a new position in Deere & Company in the 2nd quarter valued at approximately $2,592,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE traded up $3.14 during mid-day trading on Thursday, hitting $653.52. 543,898 shares of the company traded hands, compared to its average volume of 1,362,938. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The stock has a 50-day moving average price of $656.93 and a two-hundred day moving average price of $611.03. Deere & Company has a 1 year low of $445.55 and a 1 year high of $721.22. The stock has a market cap of $176.20 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 2.38 and a beta of 0.86.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter last year, the company posted $4.75 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 18.11 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 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio is presently 36.00%.

Analyst Ratings Changes

Several brokerages have commented on DE. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. CICC Research initiated coverage on Deere & Company in a research note on Sunday, September 13th. They issued an “outperform” rating for the company. Bank of America upped their price target on Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Citigroup upped their price target on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Finally, Nomura raised Deere & Company to a “buy” rating in a research report on Monday, August 31st. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.