Wedbush Securities Inc. Has $4.53 Million Stake in Deere & Company $DE

Wedbush Securities Inc. trimmed its position in Deere & Company (NYSE:DE) by 2.2% during the second quarter, HoldingsChannel.com reports. The fund owned 8,904 shares of the industrial products company’s stock after selling 201 shares during the quarter. Wedbush Securities Inc.’s holdings in Deere & Company were worth $4,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. OLD National Bancorp IN increased its holdings in shares of Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after buying an additional 610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew 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 acquiring an additional 798 shares during the last quarter. Providence Capital Advisors LLC increased its holdings in Deere & Company by 2.1% in 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 holdings in Deere & Company by 12.7% in 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. bought a new position in Deere & Company in the first quarter valued at about $13,588,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DE. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday. Daiwa Capital Markets dropped their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Finally, Oppenheimer decreased their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Trading Down 1.8%

DE opened at $466.98 on Friday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company has a fifty day moving average of $465.84 and a 200-day moving average of $490.08. The stock has a market cap of $126.24 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. 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 issued its quarterly earnings results 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 business 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 posted $6.29 earnings per share. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm 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 dividend of $1.62 per share. 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 (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.