Aigen Investment Management LP Sells 4,366 Shares of Deere & Company $DE

Aigen Investment Management LP lessened its stake in Deere & Company (NYSE:DE) by 70.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,831 shares of the industrial products company’s stock after selling 4,366 shares during the period. Aigen Investment Management LP’s holdings in Deere & Company were worth $852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Strategic Advocates LLC bought a new stake in shares of Deere & Company in the 3rd quarter worth approximately $25,000. Key Capital Management INC purchased a new position in Deere & Company in the 4th quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new position in Deere & Company in the 4th quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new position in Deere & Company in the 3rd quarter valued at approximately $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.1%

Shares of NYSE:DE opened at $577.05 on Monday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The firm has a fifty day moving average of $573.27 and a 200 day moving average of $549.31. The firm has a market capitalization of $155.77 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the business earned $6.64 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm 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 $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is currently 36.71%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DE shares. UBS Group boosted their price target on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Wolfe Research boosted their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Finally, Citigroup reduced their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Company Profile

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.