Curbstone Financial Management Corp Trims Stake in Deere & Company (NYSE:DE)

Curbstone Financial Management Corp cut its position in Deere & Company (NYSE:DE) by 24.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,046 shares of the industrial products company’s stock after selling 340 shares during the quarter. Curbstone Financial Management Corp’s holdings in Deere & Company were worth $491,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $39,000. Dogwood Wealth Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $42,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $43,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $44,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial upped their target price on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research report on Friday, May 16th. DA Davidson reaffirmed a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Evercore ISI upped their price objective on Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $515.19.

Deere & Company Stock Performance

Shares of DE stock opened at $520.72 on Thursday. The company has a market cap of $141.03 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The stock has a 50 day simple moving average of $483.40 and a 200-day simple moving average of $467.81. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the business posted $8.53 EPS. Deere & Company’s quarterly revenue was down 17.9% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s payout ratio is currently 31.35%.

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.