Deere & Company (NYSE:DE) Shares Sold by Invesco LLC

Invesco LLC trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 719 shares of the industrial products company's stock after selling 1,584 shares during the period. Invesco LLC's holdings in Deere & Company were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Deere & Company in the fourth quarter valued at about $1,244,094,000. GAMMA Investing LLC boosted its holdings in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Deere & Company during the fourth quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Finally, FMR LLC boosted its holdings in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. DA Davidson reiterated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Oppenheimer boosted their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of "Hold" and an average price target of $515.19.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $513.86 on Tuesday. The stock's 50-day simple moving average is $496.05 and its 200-day simple moving average is $471.31. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a market capitalization of $139.17 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.31 and a beta of 1.09.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

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.

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