Deere & Company $DE Shares Sold by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC cut its stake in Deere & Company (NYSE:DE) by 8.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,056 shares of the industrial products company’s stock after selling 101 shares during the period. WealthPlan Investment Management LLC’s holdings in Deere & Company were worth $537,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position 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 acquiring an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Deere & Company by 2.0% 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 worth $852,254,000 after acquiring an additional 35,075 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after acquiring an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the topic of several research analyst reports. Jefferies Financial Group decreased their target price on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Citigroup cut their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Daiwa Capital Markets cut their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. Finally, Oppenheimer cut their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $511.76.

Deere & Company Trading Up 1.9%

NYSE DE opened at $456.98 on Friday. The firm has a market capitalization of $123.54 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.88 and a beta of 1.02. The company’s 50 day moving average price is $474.28 and its 200 day moving average price is $487.62. Deere & Company has a one year low of $387.03 and a one year high of $533.78. 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 (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.29 earnings per share. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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 dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

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.