Deere & Company $DE Stock Position Decreased by Jacobi Capital Management LLC

Jacobi Capital Management LLC cut its stake in shares of Deere & Company (NYSE:DE) by 2.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,843 shares of the industrial products company’s stock after selling 149 shares during the period. Jacobi Capital Management LLC’s holdings in Deere & Company were worth $2,742,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after buying an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Deere & Company by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after purchasing an additional 35,075 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Deere & Company by 2.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company’s stock worth $754,500,000 after buying an additional 48,941 shares during the period. Finally, 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 valued at $822,781,000 after buying an additional 1,750,163 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.9%

Deere & Company stock opened at $471.54 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a market capitalization of $127.47 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 3.06 and a beta of 1.00. Deere & Company has a one year low of $378.66 and a one year high of $533.78. The company’s fifty day moving average price is $499.13 and its two-hundred day moving average price is $490.41.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.29 earnings per share. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Ratings Changes

DE has been the subject of a number of research reports. Bank of America raised their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Oppenheimer lifted their target price on shares of Deere & Company from $560.00 to $566.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Robert W. Baird dropped their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Finally, Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $520.87.

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.