Planning Center Inc. Reduces Position in Deere & Company (NYSE:DE)

Planning Center Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,819 shares of the industrial products company’s stock after selling 76 shares during the period. Deere & Company makes up 0.8% of Planning Center Inc.’s portfolio, making the stock its 21st biggest position. Planning Center Inc.’s holdings in Deere & Company were worth $6,955,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Principal Securities Inc. boosted its position in Deere & Company by 9.7% in the fourth quarter. Principal Securities Inc. now owns 4,329 shares of the industrial products company’s stock worth $1,834,000 after purchasing an additional 381 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in Deere & Company by 16.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 783 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 110 shares during the last quarter. Csenge Advisory Group boosted its position in Deere & Company by 5.4% in the fourth quarter. Csenge Advisory Group now owns 2,580 shares of the industrial products company’s stock worth $1,093,000 after purchasing an additional 132 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its position in Deere & Company by 1.8% in the fourth quarter. Valmark Advisers Inc. now owns 2,642 shares of the industrial products company’s stock worth $1,120,000 after purchasing an additional 46 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DE shares. Barclays raised their target price on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. UBS Group decreased their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. DA Davidson reaffirmed a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Stock Down 0.3%

Shares of DE opened at $523.08 on Wednesday. The business’s 50 day moving average is $490.87 and its 200 day moving average is $469.33. The company has a market capitalization of $141.67 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 3.33 and a beta of 1.09. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the company earned $8.53 EPS. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.