JT Stratford LLC Lowers Holdings in Deere & Company (NYSE:DE)

JT Stratford LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 40.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,115 shares of the industrial products company’s stock after selling 754 shares during the period. JT Stratford LLC’s holdings in Deere & Company were worth $472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Robertson Stephens Wealth Management LLC lifted its stake in shares of Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after buying an additional 22 shares during the period. Quent Capital LLC raised its stake in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 24 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after acquiring an additional 24 shares during the period. Patrick M Sweeney & Associates Inc. grew its stake in Deere & Company by 1.2% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock valued at $896,000 after purchasing an additional 25 shares during the last quarter. Finally, Massachusetts Wealth Management grew its stake in Deere & Company by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 5,127 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.2%

Shares of NYSE:DE opened at $515.56 on Friday. The business’s 50 day moving average price is $472.03 and its 200-day moving average price is $457.60. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The firm has a market capitalization of $139.93 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.53 EPS. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were paid a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. Deere & Company’s dividend payout ratio is currently 31.35%.

Analyst Ratings Changes

DE has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Robert W. Baird upped their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $516.75.

About Deere & Company

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.