Conning Inc. Has $779,000 Stock Position in Deere & Company (NYSE:DE)

Conning Inc. lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,660 shares of the industrial products company's stock after selling 488 shares during the quarter. Conning Inc.'s holdings in Deere & Company were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Aurora Private Wealth Inc. bought a new position in shares of Deere & Company in the first quarter valued at approximately $44,081,000. Davidson Trust Co. boosted its holdings in shares of Deere & Company by 11.7% during the 1st quarter. Davidson Trust Co. now owns 2,337 shares of the industrial products company's stock worth $1,097,000 after buying an additional 245 shares during the period. Onyx Bridge Wealth Group LLC grew its stake in Deere & Company by 7.5% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 1,033 shares of the industrial products company's stock valued at $485,000 after buying an additional 72 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Deere & Company by 2.1% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,016 shares of the industrial products company's stock worth $1,416,000 after acquiring an additional 63 shares during the period. Finally, Mutual Advisors LLC raised its holdings in Deere & Company by 20.9% in the 1st quarter. Mutual Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,460,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DE. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Raymond James Financial lifted their price target on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Citigroup cut their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Finally, Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company Stock Down 0.5%

NYSE DE opened at $517.50 on Friday. The stock's 50 day simple moving average is $506.47 and its 200 day simple moving average is $475.24. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The firm has a market cap of $140.15 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.31 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 the consensus estimate 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 quarter in the prior year, the business earned $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is presently 31.35%.

About Deere & Company

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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