Family Legacy Inc. Sells 122 Shares of Deere & Company (NYSE:DE)

Family Legacy Inc. cut its holdings in Deere & Company (NYSE:DE) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,189 shares of the industrial products company’s stock after selling 122 shares during the period. Family Legacy Inc.’s holdings in Deere & Company were worth $3,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Brighton Jones LLC boosted its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the period. Howard Capital Management Inc. boosted its holdings in Deere & Company by 4.5% in the 4th quarter. Howard Capital Management Inc. now owns 1,705 shares of the industrial products company’s stock worth $722,000 after buying an additional 74 shares during the period. MONECO Advisors LLC boosted its holdings in Deere & Company by 4.8% in the 4th quarter. MONECO Advisors LLC now owns 935 shares of the industrial products company’s stock worth $396,000 after buying an additional 43 shares during the period. Delta Financial Group Inc. bought a new position in Deere & Company in the 4th quarter worth approximately $301,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Deere & Company in the 4th quarter worth approximately $1,073,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 1.4%

NYSE:DE opened at $513.86 on Tuesday. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company’s 50-day simple moving average is $496.05 and its 200 day simple moving average is $471.31. The firm has a market capitalization of $139.17 billion, a P/E ratio of 24.86, a PEG ratio of 3.31 and a beta of 1.09.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $8.53 earnings per share. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. Deere & Company’s payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Finally, Morgan Stanley increased their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $515.19.

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.