Olstein Capital Management L.P. Sells 5,250 Shares of Deere & Company (NYSE:DE)

Olstein Capital Management L.P. lowered its position in Deere & Company (NYSE:DE) by 33.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,500 shares of the industrial products company’s stock after selling 5,250 shares during the period. Olstein Capital Management L.P.’s holdings in Deere & Company were worth $4,928,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DE. Compass Financial Services Inc purchased a new position in shares of Deere & Company in the fourth quarter worth $254,000. Banque Pictet & Cie SA increased its holdings in Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after acquiring an additional 1,500 shares during the last quarter. Spectrum Financial Alliance Ltd LLC increased its holdings in Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after acquiring an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Deere & Company in the 4th quarter worth $847,000. Finally, BankPlus Trust Department bought a new position in shares of Deere & Company during the 4th quarter valued at about $1,127,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DE. Oppenheimer lifted their target price on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group reduced their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Robert W. Baird increased their target price on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Trading Up 1.7%

Deere & Company stock opened at $519.62 on Monday. The stock has a 50-day moving average price of $479.20 and a 200 day moving average price of $466.58. The company has a market capitalization of $140.73 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. 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.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.53 EPS. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

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.