Choreo LLC Cuts Stock Holdings in Deere & Company (NYSE:DE)

Choreo LLC lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 12.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,692 shares of the industrial products company's stock after selling 2,474 shares during the period. Choreo LLC's holdings in Deere & Company were worth $7,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. increased its holdings in Deere & Company by 2.4% in the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares during the last quarter. First Bancorp Inc ME increased its holdings in Deere & Company by 4.7% in the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 23 shares during the last quarter. World Equity Group Inc. increased its holdings in Deere & Company by 4.5% in the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock valued at $244,000 after purchasing an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC increased its holdings in Deere & Company by 2.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after purchasing an additional 25 shares during the last quarter. Finally, Glen Eagle Advisors LLC increased its holdings in Deere & Company by 0.9% in the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock valued at $1,244,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analysts Set New Price Targets

DE has been the subject of several research reports. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. UBS Group dropped their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Barclays boosted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Evercore ISI boosted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Finally, Oppenheimer set a $560.00 price objective on shares of Deere & Company and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $515.50.

Deere & Company Price Performance

DE traded up $2.92 on Friday, hitting $517.58. 858,413 shares of the company were exchanged, compared to its average volume of 1,107,224. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The business's fifty day moving average is $513.03 and its 200 day moving average is $484.29. 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 $140.18 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 earnings per share. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.25%. Deere & Company's payout ratio 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.