Fortitude Family Office LLC Sells 664 Shares of Deere & Company (NYSE:DE)

Fortitude Family Office LLC decreased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 55.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 523 shares of the industrial products company's stock after selling 664 shares during the quarter. Fortitude Family Office LLC's holdings in Deere & Company were worth $245,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Orion Capital Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $39,000. Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $42,000. Sierra Ocean LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $44,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. DA Davidson reiterated a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird boosted their price target on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Evercore ISI upped their target price on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $515.19.

Deere & Company Stock Performance

Shares of DE stock traded down $7.82 during trading hours on Friday, hitting $509.04. 824,497 shares of the company were exchanged, compared to its average volume of 1,393,748. The firm has a fifty day simple moving average of $487.24 and a 200 day simple moving average of $468.53. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The stock has a market capitalization of $137.86 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the business earned $8.53 EPS. Deere & Company's revenue was down 17.9% compared to the same quarter last year. Research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

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.