Barings LLC Sells 1,782 Shares of Deere & Company (NYSE:DE)

Key Points

• Barings LLC has reduced its stake in Deere & Company by 19.0%, selling 1,782 shares and bringing its holdings down to 7,620 shares valued at approximately $3.58 million.
• Analysts are generally optimistic about Deere & Company, with ratings ranging from a "strong buy" to a "hold," while price targets have been increased by several firms, with the highest now at $560.00.
• Deere & Company will pay a quarterly dividend of $1.62 on August 8th, offering an annual yield of 1.3%, and has a current dividend payout ratio of 31.35%.

Barings LLC reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 19.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,620 shares of the industrial products company's stock after selling 1,782 shares during the quarter. Barings LLC's holdings in Deere & Company were worth $3,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new stake in Deere & Company in the first quarter valued at $29,000. Cornerstone Planning Group LLC boosted its holdings in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new stake in Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company in the fourth quarter valued at $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter valued at $42,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson reiterated a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Raymond James Financial lifted their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Oppenheimer lifted their price target on shares of Deere & Company from $555.00 to $560.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Bank of America boosted their target price on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $515.50.

Deere & Company Trading Down 4.5%

Shares of DE stock opened at $500.94 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The firm has a fifty day moving average price of $512.25 and a 200-day moving average price of $486.99. The company has a market cap of $135.67 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 3.32 and a beta of 1.08. 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 announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period last year, the firm earned $8.53 EPS. Deere & Company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

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.

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