Deere & Company $DE Shares Sold by Scientech Research LLC

Key Points

• Scientech Research LLC significantly reduced its stake in Deere & Company by 52.3%, now holding 1,517 shares valued at $712,000.
• Deere & Company recently reported $4.75 earnings per share for the last quarter, surpassing estimates, but experienced a 9.0% decline in revenue year-over-year.
• The firm announced a quarterly dividend payment of $1.62 per share, with a payout ratio of 33.87% and an annualized dividend yield of 1.3%.

Scientech Research LLC lowered its stake in Deere & Company (NYSE:DE - Free Report) by 52.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,517 shares of the industrial products company's stock after selling 1,666 shares during the quarter. Scientech Research LLC's holdings in Deere & Company were worth $712,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the first quarter valued at $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $34,000. Finally, Mascagni Wealth Management Inc. bought a new position in Deere & Company in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a report on Tuesday, September 2nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup decreased their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Finally, Oppenheimer lifted their price target on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $520.87.

Deere & Company Stock Performance

Deere & Company stock traded up $4.89 during trading on Thursday, reaching $476.24. The company had a trading volume of 1,368,492 shares, compared to its average volume of 1,478,417. Deere & Company has a 52 week low of $383.10 and a 52 week high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $128.74 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00. The firm's 50-day simple moving average is $499.13 and its 200 day simple moving average is $490.41.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.29 earnings per share. 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 Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's payout ratio is 33.87%.

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.