Figure 8 Investment Strategies LLC Decreases Position in Deere & Company $DE

Figure 8 Investment Strategies LLC cut its stake in shares of Deere & Company (NYSE:DE) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,978 shares of the industrial products company’s stock after selling 137 shares during the period. Deere & Company accounts for about 2.0% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 17th biggest position. Figure 8 Investment Strategies LLC’s holdings in Deere & Company were worth $2,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management raised its position in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company during the second quarter valued at approximately $39,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.2%

Shares of NYSE:DE opened at $462.59 on Friday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market cap of $125.05 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The business’s 50 day moving average is $484.64 and its 200 day moving average is $489.09. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company Dividend Announcement

The company also recently disclosed 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 of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DE shares. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. DA Davidson reduced their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. Oppenheimer reduced their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. reduced their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company 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.