TKG Advisors LLC Decreases Stock Position in Deere & Company (NYSE:DE)

TKG Advisors LLC lowered its holdings in Deere & Company (NYSE:DE) by 57.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 579 shares of the industrial products company’s stock after selling 793 shares during the quarter. TKG Advisors LLC’s holdings in Deere & Company were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC grew its position in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Norden Group LLC boosted its stake in shares of Deere & Company by 5.2% in the 4th quarter. Norden Group LLC now owns 792 shares of the industrial products company’s stock worth $336,000 after buying an additional 39 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Deere & Company by 174.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 444 shares of the industrial products company’s stock worth $188,000 after buying an additional 282 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Deere & Company in the fourth quarter worth $421,000. Finally, Charles Schwab Investment Management Inc. increased its position in Deere & Company by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,523,323 shares of the industrial products company’s stock valued at $645,432,000 after acquiring an additional 48,053 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $520.33 on Thursday. The stock’s 50-day simple moving average is $504.22 and its 200-day simple moving average is $474.18. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a market capitalization of $140.92 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 3.23 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its 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 return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the company earned $8.53 EPS. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

DE has been the topic of several research reports. Morgan Stanley raised their target price on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Evercore ISI upped their target price on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Raymond James Financial increased their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.