Braun Stacey Associates Inc. Reduces Stock Position in Deere & Company (NYSE:DE)

Braun Stacey Associates Inc. trimmed its position in Deere & Company (NYSE:DE - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,342 shares of the industrial products company's stock after selling 496 shares during the period. Braun Stacey Associates Inc.'s holdings in Deere & Company were worth $4,854,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Assetmark Inc. lifted its holdings in Deere & Company by 24.2% in the fourth quarter. Assetmark Inc. now owns 47,832 shares of the industrial products company's stock valued at $20,267,000 after acquiring an additional 9,316 shares during the last quarter. Atria Investments Inc lifted its holdings in Deere & Company by 10.7% in the fourth quarter. Atria Investments Inc now owns 12,822 shares of the industrial products company's stock valued at $5,433,000 after acquiring an additional 1,243 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Deere & Company by 23.4% in the fourth quarter. Proficio Capital Partners LLC now owns 1,253 shares of the industrial products company's stock valued at $531,000 after acquiring an additional 238 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Deere & Company in the fourth quarter valued at approximately $296,232,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE traded down $10.98 during mid-day trading on Monday, hitting $509.99. 981,962 shares of the company's stock were exchanged, compared to its average volume of 1,355,421. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The firm has a market capitalization of $138.12 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.31 and a beta of 1.08. The business's 50 day moving average is $506.47 and its two-hundred day moving average is $475.92. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly 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 firm 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 firm's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.53 earnings per share. On average, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DE shares. Evercore ISI boosted their target price on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Citigroup cut their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.