Cane Capital Partners LLC Trims Stock Position in Deere & Company $DE

Cane Capital Partners LLC trimmed its position in Deere & Company (NYSE:DE) by 64.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,251 shares of the industrial products company’s stock after selling 5,860 shares during the quarter. Cane Capital Partners LLC’s holdings in Deere & Company were worth $1,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Advocates LLC purchased a new position in Deere & Company during the third quarter worth about $25,000. Key Capital Management INC acquired a new position in Deere & Company during the 4th quarter worth about $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter worth about $29,000. McIlrath & Eck LLC purchased a new position in Deere & Company during the 4th quarter valued at about $30,000. Finally, Portus Wealth Advisors LLC purchased a new position in Deere & Company during the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DE. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Robert W. Baird dropped their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Bank of America dropped their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. DA Davidson lowered their target price on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a research note on Wednesday, April 8th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $628.84 on Thursday. The firm has a market capitalization of $169.75 billion, a P/E ratio of 35.63, a P/E/G ratio of 2.35 and a beta of 0.89. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. 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 firm’s 50 day moving average is $576.92 and its two-hundred day moving average is $561.32.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share 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 business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the firm earned $6.64 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Deere & 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.