Deere & Company (NYSE:DE) Shares Sold by Invesco LLC

Invesco LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 68.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 719 shares of the industrial products company’s stock after selling 1,584 shares during the quarter. Invesco LLC’s holdings in Deere & Company were worth $337,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Petros Family Wealth LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $249,000. FORM Wealth Advisors LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth about $219,000. Legacy Advisors LLC grew its position in shares of Deere & Company by 4.7% during the 1st quarter. Legacy Advisors LLC now owns 2,495 shares of the industrial products company’s stock valued at $1,171,000 after acquiring an additional 112 shares during the period. AssuredPartners Investment Advisors LLC raised its holdings in Deere & Company by 23.8% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 1,691 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 325 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Deere & Company by 6.0% during the first quarter. Asset Management One Co. Ltd. now owns 106,993 shares of the industrial products company’s stock worth $50,217,000 after purchasing an additional 6,100 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.4%

Shares of DE opened at $513.86 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The stock has a market capitalization of $139.17 billion, a PE ratio of 24.86, a P/E/G ratio of 3.31 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company’s 50-day simple moving average is $496.05 and its 200-day simple moving average is $471.31.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the previous year, the business earned $8.53 earnings per share. The firm’s revenue was down 17.9% compared to the same quarter last year. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.26%. Deere & Company’s dividend payout ratio is presently 31.35%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Oppenheimer boosted their price objective on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Evercore ISI raised their price objective on Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Finally, Barclays increased their target price on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $515.19.

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.