Sara Bay Financial Has $729,000 Position in Deere & Company $DE

Sara Bay Financial cut its position in Deere & Company (NYSE:DE) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,433 shares of the industrial products company’s stock after selling 31 shares during the quarter. Sara Bay Financial’s holdings in Deere & Company were worth $729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after purchasing an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC increased its position in Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc increased its position in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after purchasing an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in Deere & Company during the 1st quarter worth approximately $13,588,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.5%

NYSE:DE opened at $471.57 on Wednesday. The firm’s fifty day moving average is $491.82 and its 200-day moving average is $490.03. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The firm has a market cap of $127.48 billion, a P/E ratio of 24.65, a P/E/G ratio of 3.02 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm posted $6.29 EPS. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

DE has been the subject of a number of research analyst reports. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Robert W. Baird reduced their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $517.27.

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.