Deere & Company (NYSE:DE) Shares Sold by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC lessened its position in shares of Deere & Company (NYSE:DE) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,626 shares of the industrial products company’s stock after selling 277 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Deere & Company were worth $1,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Onyx Bridge Wealth Group LLC raised its stake in shares of Deere & Company by 4.2% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 961 shares of the industrial products company’s stock valued at $407,000 after buying an additional 39 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its stake in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after buying an additional 22 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Deere & Company by 1.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,346 shares of the industrial products company’s stock valued at $1,841,000 after buying an additional 70 shares during the period. Finally, YANKCOM Partnership purchased a new stake in shares of Deere & Company in the fourth quarter worth about $34,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.7%

DE stock opened at $519.62 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a 50-day simple moving average of $479.20 and a 200-day simple moving average of $465.95. The stock has a market capitalization of $140.73 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the previous year, the firm posted $8.53 EPS. Deere & Company’s revenue was down 17.9% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. Oppenheimer lifted their price target on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Robert W. Baird raised their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Barclays lifted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday. Finally, Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.