Godsey & Gibb Inc. Lowers Holdings in Deere & Company (NYSE:DE)

Godsey & Gibb Inc. cut its position in Deere & Company (NYSE:DE) by 16.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208 shares of the industrial products company’s stock after selling 40 shares during the quarter. Godsey & Gibb Inc.’s holdings in Deere & Company were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pineridge Advisors LLC raised its position in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the 4th quarter valued at $34,000. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the 4th quarter valued at $39,000. Finally, Dogwood Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $519.62 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company’s 50-day moving average is $479.20 and its 200 day moving average is $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 announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the previous year, the company earned $8.53 earnings per share. Deere & Company’s quarterly revenue was down 17.9% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio is presently 31.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DE shares. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Robert W. Baird increased their target price on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $515.19.

Deere & Company 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.