Deere & Company $DE Position Decreased by Pacer Advisors Inc.

Key Points

• Pacer Advisors reduced its Deere & Company stake by 35.9% in the first quarter, selling 7,105 shares and retaining 12,691 shares valued at approximately $7.15 million. Institutional investors collectively own 68.58% of the stock.
• Deere reported quarterly EPS of $6.55, beating estimates of $5.70, while revenue rose 5.4% year over year to $13.37 billion. The company declared a quarterly dividend of $1.62, equivalent to a 1.1% annual yield.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $642.98, despite several analysts recently lowering their targets.

Pacer Advisors Inc. lowered its holdings in Deere & Company (NYSE:DE - Free Report) by 35.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,691 shares of the industrial products company's stock after selling 7,105 shares during the period. Pacer Advisors Inc.'s holdings in Deere & Company were worth $7,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DE. Cary Street Partners Financial LLC lifted its holdings in shares of Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company's stock valued at $4,801,000 after buying an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC grew its stake in shares of Deere & Company by 55.8% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company's stock valued at $39,737,000 after buying an additional 30,553 shares in the last quarter. Westpac Banking Corp increased its holdings in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company's stock worth $3,224,000 after buying an additional 3,047 shares during the last quarter. Natixis Advisors LLC increased its holdings in Deere & Company by 13.4% in the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company's stock worth $180,919,000 after buying an additional 45,782 shares during the last quarter. Finally, Vise Technologies Inc. raised its position in Deere & Company by 46.1% during the fourth quarter. Vise Technologies Inc. now owns 6,265 shares of the industrial products company's stock valued at $2,917,000 after acquiring an additional 1,977 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $611.87 on Thursday. The firm has a market cap of $165.17 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company's 50-day moving average price is $596.49 and its two-hundred day moving average price is $583.47. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the company posted $6.64 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of analyst reports. Bank of America reduced their target price on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Robert W. Baird reduced their target price on Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. DA Davidson reissued a "buy" rating and issued a $685.00 price objective on shares of Deere & Company in a research report on Friday, July 17th. Finally, Raymond James Financial reduced their target price on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $642.98.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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