Gitterman Wealth Management LLC Has $360,000 Stock Holdings in Deere & Company $DE

Key Points

• Gitterman Wealth Management LLC reduced its stake in Deere & Company by 44.3% during Q1, holding 768 shares valued at $360,000 afterward.
• Deere & Company reported $4.75 earnings per share for the last quarter, exceeding estimates, but noted a 9% revenue decline year-over-year.
• The firm declared a quarterly dividend of $1.62 per share, with a current dividend yield of 1.3% and a payout ratio of 33.87%.

Gitterman Wealth Management LLC trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 44.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 768 shares of the industrial products company's stock after selling 611 shares during the quarter. Gitterman Wealth Management LLC's holdings in Deere & Company were worth $360,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Deere & Company in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $39,000. Finally, Citizens National Bank Trust Department bought a new stake in shares of Deere & Company in the first quarter worth $45,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE traded down $7.8020 during trading on Monday, reaching $488.1880. 729,473 shares of the company traded hands, compared to its average volume of 1,359,965. The firm has a market capitalization of $132.22 billion, a PE ratio of 25.52, a PEG ratio of 3.18 and a beta of 1.06. Deere & Company has a 52 week low of $374.46 and a 52 week high of $533.78. 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 company's 50 day moving average is $508.58 and its two-hundred day moving average is $490.77.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the business posted $6.29 EPS. Deere & Company's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's dividend payout ratio is currently 33.87%.

Analyst Ratings Changes

A number of research analysts have weighed in on DE shares. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. DA Davidson dropped their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Oppenheimer lifted their price target on Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Finally, Bank of America boosted their price target on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and an average price target of $523.87.

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.