Deere & Company (NYSE:DE) Shares Sold by FSB Premier Wealth Management Inc.

Key Points

• FSB Premier Wealth Management Inc. reduced its stake in Deere & Company by 9.7%, now holding $4.66 million, which represents about 1.8% of its total holdings.
• Deere & Company reported $6.64 EPS for the last quarter, exceeding analyst expectations by $0.92, although its quarterly revenue was down 17.9% year-over-year.
• The company announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.26%, scheduled for payment on August 8th.

FSB Premier Wealth Management Inc. trimmed its position in Deere & Company (NYSE:DE - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,919 shares of the industrial products company's stock after selling 1,066 shares during the quarter. Deere & Company comprises 1.8% of FSB Premier Wealth Management Inc.'s investment portfolio, making the stock its 10th biggest position. FSB Premier Wealth Management Inc.'s holdings in Deere & Company were worth $4,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. GAMMA Investing LLC lifted its holdings in Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after buying an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after buying an additional 1,095,736 shares in the last quarter. FMR LLC lifted its holdings in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after buying an additional 1,039,395 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $255,686,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Evercore ISI increased their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, DA Davidson reissued a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $515.50.

Deere & Company Stock Up 3.2%

Shares of NYSE DE traded up $16.31 during mid-day trading on Thursday, reaching $524.18. The company had a trading volume of 1,549,282 shares, compared to its average volume of 1,018,595. 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 firm has a 50 day simple moving average of $512.43 and a two-hundred day simple moving average of $486.52. The stock has a market cap of $141.96 billion, a P/E ratio of 25.36, a PEG ratio of 3.22 and a beta of 1.08. 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 issued its quarterly 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 during 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%. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.53 EPS. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. Deere & Company's dividend payout ratio 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.