InterOcean Capital LLC lowered its holdings in shares of Deere & Company (NYSE:DE) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,147 shares of the industrial products company’s stock after selling 100 shares during the period. InterOcean Capital LLC’s holdings in Deere & Company were worth $297,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in DE. Atlas Private Wealth Management bought a new position in shares of Deere & Company during the 4th quarter worth about $29,000. Solstein Capital LLC bought a new stake in Deere & Company in the fourth quarter valued at about $35,000. Danda Trouve Investment Management Inc. acquired a new position in Deere & Company in the fourth quarter worth about $35,000. MBE Wealth Management LLC bought a new position in Deere & Company during the first quarter worth about $35,000. Finally, Wealth Quarterback LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $38,000. 67.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DE stock traded down $2.10 during trading hours on Friday, reaching $140.71. 3,426,656 shares of the company were exchanged, compared to its average volume of 1,765,039. Deere & Company has a fifty-two week low of $106.14 and a fifty-two week high of $181.99. The company has a debt-to-equity ratio of 2.55, a current ratio of 2.12 and a quick ratio of 1.84. The stock’s fifty day moving average is $137.27 and its two-hundred day moving average is $157.92. The company has a market cap of $44.79 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 3.35 and a beta of 0.93.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, May 22nd. The industrial products company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.12. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The firm had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $7.68 billion. During the same quarter in the previous year, the company posted $3.52 EPS. Deere & Company’s revenue was down 19.9% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 6.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.76 per share. The ex-dividend date was Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.16%. Deere & Company’s payout ratio is currently 30.58%.
Several research firms recently commented on DE. Deutsche Bank raised their target price on Deere & Company from $169.00 to $175.00 and gave the stock a “hold” rating in a research report on Monday, February 24th. Wells Fargo & Co cut their price objective on Deere & Company from $160.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Telsey Advisory Group upgraded shares of Deere & Company from a “market perform” rating to an “outperform” rating in a research note on Friday, March 27th. JPMorgan Chase & Co. upgraded shares of Deere & Company from an “underweight” rating to a “neutral” rating and set a $140.00 target price for the company in a research report on Friday, March 27th. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their price target on shares of Deere & Company from $205.00 to $171.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $168.04.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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