Foundations Investment Advisors LLC Sells 719 Shares of Deere & Company (NYSE:DE)

Key Points

• Foundations Investment Advisors LLC reduced its stake in Deere & Company by 18.6%, holding 3,140 shares valued at approximately $1.47 million after selling 719 shares in the 1st quarter.
• In contrast, GAMMA Investing LLC dramatically increased its position by 61,215.9%, owning 1,753,022 shares valued at $822.78 million as of the 1st quarter.
• Deere & Company's quarterly earnings surpassed analysts' expectations with an EPS of $6.64, alongside a revenue of $11.17 billion, despite a 17.9% decline year-over-year.

Foundations Investment Advisors LLC lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 18.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,140 shares of the industrial products company's stock after selling 719 shares during the period. Foundations Investment Advisors LLC's holdings in Deere & Company were worth $1,474,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company during the 4th quarter valued at $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in Deere & Company during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Down 4.5%

NYSE:DE traded down $23.43 during trading hours on Friday, hitting $500.94. 1,623,054 shares of the stock were exchanged, compared to its average volume of 1,344,718. The company's 50 day moving average is $512.43 and its two-hundred day moving average is $486.52. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. 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 company has a market capitalization of $135.67 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $8.53 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is 31.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird lifted their target price on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Raymond James Financial lifted their price target on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. lifted their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report 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. According to MarketBeat.com, Deere & Company currently has an average rating of "Hold" and a consensus target price of $515.50.

About Deere & Company

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.