CWA Asset Management Group LLC Cuts Stock Holdings in Deere & Company (NYSE:DE)

CWA Asset Management Group LLC lessened its stake in Deere & Company (NYSE:DE - Free Report) by 22.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,373 shares of the industrial products company's stock after selling 9,206 shares during the quarter. Deere & Company comprises approximately 0.7% of CWA Asset Management Group LLC's holdings, making the stock its 27th biggest holding. CWA Asset Management Group LLC's holdings in Deere & Company were worth $15,194,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Deere & Company by 9.7% in the 4th quarter. Principal Securities Inc. now owns 4,329 shares of the industrial products company's stock valued at $1,834,000 after purchasing an additional 381 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Deere & Company by 16.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 783 shares of the industrial products company's stock worth $332,000 after purchasing an additional 110 shares during the period. Csenge Advisory Group grew its holdings in shares of Deere & Company by 5.4% during the 4th quarter. Csenge Advisory Group now owns 2,580 shares of the industrial products company's stock worth $1,093,000 after purchasing an additional 132 shares during the period. Finally, Valmark Advisers Inc. increased its position in Deere & Company by 1.8% during the 4th quarter. Valmark Advisers Inc. now owns 2,642 shares of the industrial products company's stock worth $1,120,000 after purchasing an additional 46 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. Raymond James Financial lifted their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. BMO Capital Markets restated a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. UBS Group cut their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Robert W. Baird boosted their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $515.19.

Deere & Company Price Performance

DE stock opened at $523.08 on Wednesday. The stock's 50 day moving average is $490.87 and its two-hundred day moving average is $469.33. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a market capitalization of $141.67 billion, a PE ratio of 25.31, a P/E/G ratio of 3.33 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.53 earnings per share. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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 issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend 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.

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