Dakota Wealth Management Cuts Stock Holdings in Deere & Company (NYSE:DE)

Dakota Wealth Management lowered its position in Deere & Company (NYSE:DE - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,588 shares of the industrial products company's stock after selling 750 shares during the period. Dakota Wealth Management's holdings in Deere & Company were worth $12,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in DE. Hughes Financial Services LLC purchased a new position in Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its holdings in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during 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. purchased a new position in Deere & Company in the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC purchased a new position in Deere & Company in the fourth quarter worth $42,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DE. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. DA Davidson reissued a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. UBS Group dropped their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $515.19.

Deere & Company Price Performance

DE traded down $0.61 during trading on Tuesday, reaching $507.01. The company's stock had a trading volume of 433,333 shares, compared to its average volume of 1,342,982. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a fifty day simple moving average of $511.25 and a two-hundred day simple moving average of $479.24. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a market cap of $137.31 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 3.25 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last released its 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. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the company posted $8.53 EPS. The business's revenue was down 17.9% on a year-over-year basis. As a group, 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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

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.