Figure 8 Investment Strategies LLC Sells 1,617 Shares of Deere & Company (NYSE:DE)

Figure 8 Investment Strategies LLC lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 28.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,115 shares of the industrial products company's stock after selling 1,617 shares during the quarter. Deere & Company accounts for about 2.0% of Figure 8 Investment Strategies LLC's investment portfolio, making the stock its 19th biggest holding. Figure 8 Investment Strategies LLC's holdings in Deere & Company were worth $1,931,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Wealth Alliance acquired a new position in shares of Deere & Company during the 4th quarter worth about $209,000. Redmond Asset Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $758,000. Fisher Funds Management LTD acquired a new position in Deere & Company during the fourth quarter valued at approximately $15,985,000. Finally, Howard Capital Management Inc. boosted its position in Deere & Company by 4.5% during the fourth quarter. Howard Capital Management Inc. now owns 1,705 shares of the industrial products company's stock valued at $722,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DE. Citigroup cut their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Bank of America increased their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Barclays increased their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company has an average rating of "Hold" and a consensus price target of $515.19.

Deere & Company Price Performance

Deere & Company stock traded up $1.60 during midday trading on Thursday, reaching $508.34. The company's stock had a trading volume of 1,198,645 shares, compared to its average volume of 1,378,969. The stock has a market cap of $137.67 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The business has a 50-day moving average price of $499.31 and a 200-day moving average price of $472.26. 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 posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company's revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.53 earnings per share. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company's dividend payout ratio is 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.