Essex LLC Sells 1,483 Shares of Deere & Company $DE

Essex LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 12.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,201 shares of the industrial products company’s stock after selling 1,483 shares during the period. Deere & Company makes up about 1.0% of Essex LLC’s investment portfolio, making the stock its 23rd largest position. Essex LLC’s holdings in Deere & Company were worth $5,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Southland Equity Partners LLC lifted its position in Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 20 shares during the last quarter. Vivid Wealth Management LLC raised its position in shares of Deere & Company by 1.9% during the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after buying an additional 20 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after acquiring an additional 21 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 21 shares during the last quarter. Finally, McLean Asset Management Corp grew its position in Deere & Company by 4.0% in the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. Robert W. Baird dropped their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday. Daiwa Capital Markets decreased their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Jefferies Financial Group reduced their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Finally, Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $511.76.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $448.12 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The business’s 50 day simple moving average is $476.51 and its two-hundred day simple moving average is $487.98. The stock has a market capitalization of $121.14 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.82 and a beta of 1.02. Deere & Company has a one year low of $387.03 and a one year high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the firm posted $6.29 earnings per share. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Deere & 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.