Congress Asset Management Co. Sells 583 Shares of Deere & Company (NYSE:DE)

Congress Asset Management Co. reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 25.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683 shares of the industrial products company's stock after selling 583 shares during the period. Congress Asset Management Co.'s holdings in Deere & Company were worth $790,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DE. Pineridge Advisors LLC grew its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares in the last quarter. Orion Capital Management LLC purchased a new position in Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the fourth quarter valued at $39,000. Dogwood Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $42,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Deere & Company during the fourth quarter worth about $43,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Up 0.3%

Shares of NYSE DE traded up $1.64 during trading hours on Monday, hitting $521.63. The company's stock had a trading volume of 1,100,951 shares, compared to its average volume of 1,396,789. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a market cap of $141.27 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business has a 50-day simple moving average of $479.20 and a 200-day simple moving average of $466.58.

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 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 return on equity of 27.31% and a net margin of 12.94%. The business's revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the business posted $8.53 EPS. On average, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm 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 $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent research reports. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. UBS Group cut their price objective 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. Finally, Oppenheimer lifted their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus 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.