Guggenheim Capital LLC Sells 3,923 Shares of Deere & Company $DE

Key Points

• Guggenheim Capital LLC decreased its holdings in Deere & Company by 4.8%, selling 3,923 shares, and now holds 78,373 shares valued at approximately $36.78 million.
• Analyst ratings for Deere & Company show a consensus rating of Moderate Buy, with a target price averaging $523.87 based on reviews from various firms.
• Deere reported better-than-expected earnings for the last quarter, with EPS of $4.75, surpassing estimates of $4.62 despite a 9% revenue drop year-over-year.

Guggenheim Capital LLC lessened its position in Deere & Company (NYSE:DE - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,373 shares of the industrial products company's stock after selling 3,923 shares during the quarter. Guggenheim Capital LLC's holdings in Deere & Company were worth $36,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC lifted its holdings in Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after buying an additional 21 shares in the last quarter. Tyler Stone Wealth Management raised its stake in shares of Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after acquiring an additional 21 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares in the last quarter. First Bancorp Inc ME increased its stake in Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 23 shares in the last quarter. Finally, Leisure Capital Management increased its stake in Deere & Company by 0.8% during the 1st quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock valued at $1,355,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Up 0.1%

NYSE DE opened at $488.59 on Wednesday. The firm has a 50 day simple moving average of $507.17 and a 200-day simple moving average of $490.91. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a one year low of $374.46 and a one year high of $533.78. The firm has a market cap of $132.32 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.13 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm posted $6.29 earnings per share. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Citigroup decreased their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Finally, Evercore ISI set a $491.00 target price on shares of Deere & Company in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $523.87.

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.

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