Crossmark Global Holdings Inc. Trims Position in Deere & Company (NYSE:DE)

Crossmark Global Holdings Inc. cut its position in Deere & Company (NYSE:DE - Free Report) by 57.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,881 shares of the industrial products company's stock after selling 16,338 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Deere & Company were worth $5,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in Deere & Company in the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the fourth quarter worth about $39,000. Dogwood Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $42,000. Wood Tarver Financial Group LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $43,000. Finally, Citizens National Bank Trust Department bought a new stake in Deere & Company in the first quarter valued at approximately $45,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of DE traded up $16.32 during trading hours on Thursday, reaching $525.65. 433,498 shares of the company's stock traded hands, compared to its average volume of 1,362,044. The stock has a market cap of $142.36 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm's 50 day simple moving average is $509.35 and its 200-day simple moving average is $476.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.53 EPS. Equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.23%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their target price on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Robert W. Baird raised their target price on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $515.19.

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.