Weybosset Research & Management LLC Sells 1,177 Shares of Deere & Company $DE

Weybosset Research & Management LLC trimmed its holdings in shares of Deere & Company (NYSE:DEFree Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,383 shares of the industrial products company’s stock after selling 1,177 shares during the period. Deere & Company comprises 7.5% of Weybosset Research & Management LLC’s holdings, making the stock its 3rd largest position. Weybosset Research & Management LLC’s holdings in Deere & Company were worth $26,128,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Deere & Company by 39.1% during the 4th 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. Schnieders Capital Management LLC. boosted its holdings in shares of Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares during the last quarter. Jump Financial LLC bought a new position in shares of Deere & Company in the second quarter valued at $2,153,000. NewEdge Advisors LLC grew its stake in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after buying an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after buying an additional 97 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on DE shares. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup decreased their price objective on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Morgan Stanley boosted their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Robert W. Baird dropped their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Raymond James Financial cut their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

View Our Latest Analysis on Deere & Company

Deere & Company Stock Up 0.2%

DE opened at $590.37 on Monday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The stock’s fifty day simple moving average is $573.71 and its 200 day simple moving average is $553.26. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a market cap of $159.36 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the firm posted $6.64 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

About Deere & Company

(Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

Further Reading

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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