First Trust Advisors LP Reduces Stock Position in Deere & Company $DE

First Trust Advisors LP lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 18.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,621 shares of the industrial products company's stock after selling 9,854 shares during the period. First Trust Advisors LP's holdings in Deere & Company were worth $24,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Cary Street Partners Financial LLC lifted its stake in shares of Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company's stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC raised its holdings in Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company's stock worth $39,737,000 after purchasing an additional 30,553 shares in the last quarter. Westpac Banking Corp raised its holdings in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company's stock worth $3,224,000 after purchasing an additional 3,047 shares in the last quarter. Eldred Rock Partners LLC purchased a new position in Deere & Company during the fourth quarter valued at $13,166,000. Finally, Natixis Advisors LLC grew its position in shares of Deere & Company by 13.4% in the 4th quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company's stock worth $180,919,000 after buying an additional 45,782 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 2.5%

Shares of Deere & Company stock opened at $640.78 on Wednesday. The company has a 50-day simple moving average of $587.92 and a two-hundred day simple moving average of $579.01. The stock has a market capitalization of $172.97 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.64 and a beta of 0.89. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.64 earnings per share. On average, analysts anticipate that Deere & Company will post 18.28 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is presently 36.71%.

Analysts Set New Price Targets

DE has been the subject of several research reports. Raymond James Financial decreased their price target on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Wolfe Research raised their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research note on Tuesday, March 31st. DA Davidson reiterated a "buy" rating and set a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Citigroup boosted their price target on Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $642.98.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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