Johnson Investment Counsel Inc. Sells 482 Shares of Deere & Company $DE

Johnson Investment Counsel Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 6.3% in the 2nd quarter, Holdings Channel reports. The fund owned 7,176 shares of the industrial products company’s stock after selling 482 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Deere & Company were worth $3,649,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management increased its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new stake in Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC increased its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new stake in Deere & Company during the 2nd quarter valued at about $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Deere & Company during the 2nd quarter valued at about $39,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $446.76 on Monday. The company has a 50 day moving average price of $479.15 and a 200-day moving average price of $488.45. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The firm has a market capitalization of $120.77 billion, a PE ratio of 23.35, a P/E/G ratio of 2.87 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.5%. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Ratings Changes

A number of analysts have weighed in on DE shares. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Robert W. Baird reduced their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Oppenheimer reduced their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $513.88.

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.