Curi RMB Capital LLC Reduces Holdings in Deere & Company $DE

Key Points

• Curi RMB Capital LLC reduced its stake in Deere & Company by 19.4%, selling 1,172 shares in the first quarter, with their total holdings now valued at $2,299,000.
• Several hedge funds increased their positions in Deere & Company, including Assenagon Asset Management, which raised its stake by 58.9%, now holding 13,625 shares valued at $6,395,000.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.4% and a payout ratio of 33.87%.

Curi RMB Capital LLC trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,881 shares of the industrial products company's stock after selling 1,172 shares during the quarter. Curi RMB Capital LLC's holdings in Deere & Company were worth $2,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Vanguard Group Inc. boosted its stake in Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after buying an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Deere & Company by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock worth $754,500,000 after purchasing an additional 48,941 shares during the period. GAMMA Investing LLC increased its holdings in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock valued at $727,046,000 after purchasing an additional 25,725 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.0%

Deere & Company stock traded up $4.89 during midday trading on Thursday, reaching $476.24. The company's stock had a trading volume of 1,368,492 shares, compared to its average volume of 1,478,417. The company has a market cap of $128.74 billion, a P/E ratio of 24.89, a P/E/G ratio of 3.03 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a 50-day simple moving average of $498.30 and a 200-day simple moving average of $490.35. Deere & Company has a fifty-two week low of $383.10 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for 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% on a year-over-year basis. During the same quarter last year, the company earned $6.29 EPS. On average, research analysts expect 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 Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's payout ratio is currently 33.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets restated a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Robert W. Baird lowered their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Oppenheimer increased their price target on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Finally, DA Davidson lowered their price objective on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $520.87.

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.