Calamos Wealth Management LLC Lowers Holdings in Deere & Company $DE

Key Points

• Calamos Wealth Management LLC reduced its Deere & Company stake by 14.4% in the first quarter, selling 4,309 shares and leaving it with 25,710 shares valued at about $14.48 million.
• Several other institutional investors also adjusted positions in DE, and overall 68.58% of the stock is held by hedge funds and other institutional investors.
• Deere recently beat earnings expectations, reporting $6.55 EPS versus $5.70 expected and revenue of $13.37 billion, while analysts currently rate the stock a Moderate Buy with an average target price of $642.23.

Calamos Wealth Management LLC trimmed its stake in Deere & Company (NYSE:DE - Free Report) by 14.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,710 shares of the industrial products company's stock after selling 4,309 shares during the quarter. Calamos Wealth Management LLC's holdings in Deere & Company were worth $14,482,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DE. Calamos Advisors LLC grew its position in Deere & Company by 50.4% during the 1st quarter. Calamos Advisors LLC now owns 76,146 shares of the industrial products company's stock valued at $42,893,000 after purchasing an additional 25,527 shares during the last quarter. Sterling Group Wealth Management LLC purchased a new position in Deere & Company in the first quarter worth about $247,000. TFR Capital LLC. purchased a new position in Deere & Company in the first quarter worth about $211,000. Chicago Partners Investment Group LLC lifted its stake in shares of Deere & Company by 1.1% in the first quarter. Chicago Partners Investment Group LLC now owns 2,145 shares of the industrial products company's stock worth $1,244,000 after buying an additional 24 shares in the last quarter. Finally, Gratus Wealth Advisors LLC lifted its stake in shares of Deere & Company by 9.4% in the first quarter. Gratus Wealth Advisors LLC now owns 863 shares of the industrial products company's stock worth $486,000 after buying an additional 74 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective on the stock in a research report on Wednesday, April 8th. Raymond James Financial reduced their target price on Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $642.23.

Deere & Company Trading Down 0.1%

NYSE:DE opened at $586.06 on Tuesday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The business has a fifty day moving average price of $581.64 and a 200-day moving average price of $568.53. The firm has a market capitalization of $158.20 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89. 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 - Get Free Report) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the business earned $6.64 earnings per share. Deere & Company's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

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

Deere & Company Company Profile

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.

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