Deere & Company $DE Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC lowered its position in Deere & Company (NYSE:DE) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,628 shares of the industrial products company’s stock after selling 89 shares during the quarter. Marietta Wealth Management LLC’s holdings in Deere & Company were worth $6,930,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Southland Equity Partners LLC increased its position in shares of Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 21 shares during the last quarter. Tyler Stone Wealth Management increased its position in shares of Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 21 shares during the last quarter. McLean Asset Management Corp increased its position in shares of Deere & Company by 4.0% in the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 21 shares during the last quarter. Finally, Trilogy Capital Inc. increased its position in shares of Deere & Company by 1.3% in the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $462.59 on Friday. 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 has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The firm has a 50-day simple moving average of $484.64 and a 200 day simple moving average of $489.15. The company has a market cap of $125.05 billion, a PE ratio of 24.18, a P/E/G ratio of 2.98 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the firm earned $6.29 EPS. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DE shares. Wolfe Research dropped their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday. Robert W. Baird dropped their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. JPMorgan Chase & Co. lowered 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 report on Tuesday, September 2nd. Daiwa Capital Markets lowered their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Finally, Oppenheimer lowered 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 report on Thursday, September 18th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $518.18.

About Deere & Company

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.