Deere & Company (NYSE:DE) Shares Sold by Keeler Thomas Management LLC

Key Points

• Keeler Thomas Management LLC sold 3,684 shares of Deere & Company in the 1st quarter, reducing its stake by 32.3% and making it the firm's 17th largest position with a value of $3,626,000.
• Deere & Company's earnings report showed an EPS of $6.64, exceeding analyst expectations, but revenue declined 17.9% year-over-year to $11.17 billion.
• The company announced a $1.62 quarterly dividend, which will be paid on August 8th, representing an annualized yield of 1.3% with a payout ratio of 31.35%.

Keeler Thomas Management LLC reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 32.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,726 shares of the industrial products company's stock after selling 3,684 shares during the quarter. Deere & Company accounts for 1.8% of Keeler Thomas Management LLC's holdings, making the stock its 17th largest position. Keeler Thomas Management LLC's holdings in Deere & Company were worth $3,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of DE. Brighton Jones LLC boosted its stake in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Shelton Capital Management raised its holdings in Deere & Company by 32.6% in the 4th quarter. Shelton Capital Management now owns 18,324 shares of the industrial products company's stock worth $7,764,000 after purchasing an additional 4,500 shares during the period. FIL Ltd boosted its position in Deere & Company by 3.3% during the fourth quarter. FIL Ltd now owns 28,417 shares of the industrial products company's stock worth $12,040,000 after purchasing an additional 907 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Deere & Company during the fourth quarter worth approximately $55,462,000. Finally, Advisory Services Network LLC grew its holdings in Deere & Company by 2.1% in the fourth quarter. Advisory Services Network LLC now owns 19,771 shares of the industrial products company's stock valued at $8,377,000 after purchasing an additional 405 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE:DE opened at $509.86 on Thursday. Deere & Company has a one year low of $343.38 and a one year high of $533.78. The stock has a market cap of $138.09 billion, a PE ratio of 24.67, a P/E/G ratio of 3.22 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock has a 50 day moving average price of $512.29 and a 200 day moving average price of $488.40.

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

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors 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 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. 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. Morgan Stanley increased their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. DA Davidson reiterated a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. Raymond James Financial raised their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $515.50.

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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