Deere & Company $DE Shares Sold by Burney Co.

Burney Co. lessened its stake in shares of Deere & Company (NYSE:DE) by 10.8% in the 1st quarter, Holdings Channel reports. The firm owned 15,222 shares of the industrial products company’s stock after selling 1,840 shares during the period. Burney Co.’s holdings in Deere & Company were worth $8,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Deere & Company in the 4th quarter worth about $1,715,633,000. Capital World Investors raised its holdings in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after acquiring an additional 1,893,972 shares during the last quarter. M&T Bank Corp lifted its position in shares of Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after acquiring an additional 1,721,239 shares in the last quarter. Finally, Diamant Asset Management Inc. lifted its position in shares of Deere & Company by 56,230.0% in the first quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock valued at $343,961,000 after acquiring an additional 609,533 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock opened at $635.72 on Tuesday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm has a market capitalization of $171.61 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 2.30 and a beta of 0.89. The business has a 50 day simple moving average of $578.41 and a 200-day simple moving average of $563.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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. The firm 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 firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.64 earnings per share. Equities research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird dropped their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Barclays raised their price objective on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Jefferies Financial Group raised 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. Citigroup dropped their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Wolfe Research increased their target price 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. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.23.

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.