Deere & Company $DE Stock Position Decreased by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. reduced its stake in Deere & Company by 21.1% during the first quarter, leaving it with 41,227 shares valued at approximately $19.35 million.
• Deere & Company reported $4.75 EPS for the last quarter, surpassing analysts' expectations of $4.62, although its revenue decreased by 9% year-over-year.
• The company recently announced a quarterly dividend of $1.62, resulting in an annualized dividend yield of 1.4%, with a payout ratio of 33.87%.

Osterweis Capital Management Inc. cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,227 shares of the industrial products company's stock after selling 11,014 shares during the quarter. Osterweis Capital Management Inc.'s holdings in Deere & Company were worth $19,350,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Deere & Company by 20.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 128 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 22 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of Deere & Company by 0.8% in the first quarter. Modern Wealth Management LLC now owns 3,833 shares of the industrial products company's stock valued at $1,799,000 after purchasing an additional 29 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Deere & Company by 28.8% in the first quarter. Jones Financial Companies Lllp now owns 173,049 shares of the industrial products company's stock valued at $80,687,000 after purchasing an additional 38,656 shares in the last quarter. Anderson Financial Strategies LLC lifted its holdings in shares of Deere & Company by 55.6% in the first quarter. Anderson Financial Strategies LLC now owns 193 shares of the industrial products company's stock valued at $91,000 after purchasing an additional 69 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Deere & Company in the first quarter valued at $27,656,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 1.0%

Deere & Company stock opened at $476.24 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The business's 50-day simple moving average is $498.30 and its 200-day simple moving average is $490.35. The firm has a market capitalization of $128.74 billion, a PE ratio of 24.89, a PEG ratio of 3.03 and a beta of 1.00. Deere & Company has a 52 week low of $383.10 and a 52 week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.29 earnings per share. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date 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 presently 33.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DE. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Bank of America increased their target price on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. cut their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.