Beacon Investment Advisors LLC Cuts Stock Holdings in Deere & Company $DE

Beacon Investment Advisors LLC reduced its position in shares of Deere & Company (NYSE:DE) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,044 shares of the industrial products company’s stock after selling 2,098 shares during the period. Deere & Company accounts for about 1.7% of Beacon Investment Advisors LLC’s portfolio, making the stock its 12th largest holding. Beacon Investment Advisors LLC’s holdings in Deere & Company were worth $4,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Advocates LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $25,000. Key Capital Management INC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.9%

NYSE:DE opened at $586.43 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock’s fifty day moving average is $573.50 and its two-hundred day moving average is $550.68. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The stock has a market capitalization of $158.30 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92.

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

Deere & Company Dividend Announcement

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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. DA Davidson lowered their target price on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Raymond James Financial lowered their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. 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 report on Friday, February 20th. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.