Absher Wealth Management LLC Sells 3,790 Shares of Deere & Company (NYSE:DE)

Absher Wealth Management LLC lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 5.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,928 shares of the industrial products company's stock after selling 3,790 shares during the period. Deere & Company makes up approximately 4.1% of Absher Wealth Management LLC's portfolio, making the stock its 9th largest position. Absher Wealth Management LLC's holdings in Deere & Company were worth $30,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Deere & Company during the 4th quarter worth approximately $1,244,094,000. GAMMA Investing LLC boosted its position in shares of Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in shares of Deere & Company during the 4th quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Finally, FMR LLC boosted its position in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Down 0.8%

Shares of Deere & Company stock traded down $4.32 during trading on Friday, hitting $520.66. 1,387,433 shares of the stock were exchanged, compared to its average volume of 1,386,710. The stock has a market cap of $141.01 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 3.31 and a beta of 1.09. The firm's 50-day moving average price is $495.13 and its 200 day moving average price is $470.82. Deere & Company has a 12-month low of $340.20 and a 12-month 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.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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 company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $8.53 EPS. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $515.19.

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.