MV Capital Management Inc. Decreases Stake in Deere & Company (NYSE:DE)

MV Capital Management Inc. lowered its position in Deere & Company (NYSE:DE) by 8.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 521 shares of the industrial products company’s stock after selling 49 shares during the quarter. MV Capital Management Inc.’s holdings in Deere & Company were worth $245,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Deere & Company during the 4th quarter valued at about $1,244,094,000. GAMMA Investing LLC grew its holdings in shares of Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after purchasing an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Deere & Company during the fourth quarter worth about $541,437,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DE shares. Citigroup cut their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Robert W. Baird boosted their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. DA Davidson reissued a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Barclays boosted their target price on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Price Performance

Shares of DE stock opened at $520.72 on Thursday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The stock has a market cap of $141.03 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.14 and a beta of 1.09. The business’s fifty day moving average is $483.40 and its 200 day moving average is $467.81. 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 earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $8.53 earnings per share. Research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s payout ratio is currently 31.35%.

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.