Planning Center Inc. Sells 76 Shares of Deere & Company (NYSE:DE)

Planning Center Inc. lowered its stake in Deere & Company (NYSE:DE) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,819 shares of the industrial products company’s stock after selling 76 shares during the quarter. Deere & Company accounts for 0.8% of Planning Center Inc.’s portfolio, making the stock its 21st biggest position. Planning Center Inc.’s holdings in Deere & Company were worth $6,955,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new stake in Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company in the fourth quarter worth $39,000. Dogwood Wealth Management LLC purchased a new stake in Deere & Company in the fourth quarter worth $42,000. Wood Tarver Financial Group LLC purchased a new stake in Deere & Company in the fourth quarter worth $43,000. Finally, Sierra Ocean LLC purchased a new stake in Deere & Company in the fourth quarter worth $44,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.3%

NYSE DE opened at $523.08 on Wednesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a market cap of $141.67 billion, a P/E ratio of 25.31, a P/E/G ratio of 3.33 and a beta of 1.09. The stock’s fifty day moving average price is $490.87 and its 200-day moving average price is $469.33. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

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. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm posted $8.53 earnings per share. The company’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. Raymond James Financial raised their price target on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Robert W. Baird increased 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. Evercore ISI increased their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. Truist Financial increased their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, Wall Street Zen downgraded 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 issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $515.19.

About Deere & Company

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.