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KG&L Capital Management LLC Reduces Holdings in Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

KG&L Capital Management LLC lessened its position in shares of Deere & Company (NYSE:DE - Free Report) by 14.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,236 shares of the industrial products company's stock after selling 1,205 shares during the period. Deere & Company accounts for 1.1% of KG&L Capital Management LLC's investment portfolio, making the stock its 21st largest position. KG&L Capital Management LLC's holdings in Deere & Company were worth $3,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after buying an additional 5,053 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Deere & Company during the 4th quarter valued at $847,000. Stenger Family Office LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at $3,144,000. First Business Financial Services Inc. purchased a new position in shares of Deere & Company during the 4th quarter valued at $4,254,000. Finally, Westpac Banking Corp lifted its position in shares of Deere & Company by 17.9% during the 4th quarter. Westpac Banking Corp now owns 11,904 shares of the industrial products company's stock valued at $5,044,000 after buying an additional 1,809 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $4.93 during trading on Friday, hitting $513.46. 1,835,337 shares of the stock traded hands, compared to its average volume of 1,358,147. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The stock has a market cap of $139.06 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.26 and a beta of 1.09. The firm's fifty day moving average is $500.54 and its 200-day moving average is $473.14. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

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

Deere & Company Dividend Announcement

The company also recently disclosed 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 is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of analyst reports. UBS Group decreased their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Evercore ISI boosted their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Robert W. Baird boosted their price objective on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Raymond James Financial boosted their price objective on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average target price of $515.19.

Check Out Our Latest Stock Report on DE

Deere & Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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