Clearbridge Investments LLC Sells 18,646 Shares of Deere & Company $DE

Clearbridge Investments LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 365,289 shares of the industrial products company’s stock after selling 18,646 shares during the period. Clearbridge Investments LLC’s holdings in Deere & Company were worth $170,068,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Strategic Advocates LLC bought a new stake in shares of Deere & Company during the 3rd quarter valued at about $25,000. Key Capital Management INC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $27,000. McIlrath & Eck LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $30,000. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the 3rd quarter valued at about $32,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. DA Davidson dropped their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. UBS Group lifted their price target on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Morgan Stanley boosted their target price on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Stock Performance

NYSE:DE opened at $583.80 on Monday. The business has a 50 day moving average of $572.86 and a 200 day moving average of $546.09. The company has a market capitalization of $157.59 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.16 and a beta of 0.92. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.64 EPS. On average, sell-side analysts predict that Deere & Company will post 18.08 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s payout ratio is presently 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.