AlphaCore Capital LLC Has $899,000 Stock Position in Deere & Company (NYSE:DE)

AlphaCore Capital LLC cut its position in Deere & Company (NYSE:DE - Free Report) by 54.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,114 shares of the industrial products company's stock after selling 2,520 shares during the quarter. AlphaCore Capital LLC's holdings in Deere & Company were worth $899,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DE. Pineridge Advisors LLC increased its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after buying an additional 26 shares during the period. YANKCOM Partnership acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $34,000. Orion Capital Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $44,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Morgan Stanley raised their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Raymond James raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, DA Davidson reiterated a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $516.75.

Deere & Company Stock Performance

Shares of Deere & Company stock traded down $2.88 on Thursday, reaching $505.11. The stock had a trading volume of 360,865 shares, compared to its average volume of 1,401,747. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The business's 50-day moving average price is $474.56 and its two-hundred day moving average price is $460.54. The stock has a market cap of $137.09 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last announced 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 net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 earnings per share. Deere & Company's revenue was down 17.9% compared to the same quarter last year. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.28%. 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.