Los Angeles Capital Management LLC Sells 1,260 Shares of Deere & Company $DE

Los Angeles Capital Management LLC cut its position in shares of Deere & Company (NYSE:DE) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,712 shares of the industrial products company’s stock after selling 1,260 shares during the period. Los Angeles Capital Management LLC’s holdings in Deere & Company were worth $4,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Deere & Company in the 4th quarter worth $1,715,633,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Deere & Company by 1,725.8% in 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 raised its position in shares of Deere & Company by 1,199.8% in 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. Van ECK Associates Corp raised its position in shares of Deere & Company by 278.0% in the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after acquiring an additional 358,687 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Deere & Company by 21.7% in the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after acquiring an additional 323,512 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.8%

Deere & Company stock opened at $578.07 on Wednesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The business’s 50-day simple moving average is $572.93 and its two-hundred day simple moving average is $547.52. The company has a market cap of $156.04 billion, a PE ratio of 32.75, a PEG ratio of 2.13 and a beta of 0.92. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate 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%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.64 EPS. Equities analysts anticipate that Deere & Company will post 18.1 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared 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 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. UBS Group boosted their target price on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Argus boosted their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. boosted their target price on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Citigroup dropped their target price on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Wells Fargo & Company boosted their target price on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

About Deere & Company

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.