Integrated Advisors Network LLC Decreases Position in Deere & Company (NYSE:DE)

Integrated Advisors Network LLC cut its holdings in Deere & Company (NYSE:DE - Free Report) by 31.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,747 shares of the industrial products company's stock after selling 1,706 shares during the quarter. Integrated Advisors Network LLC's holdings in Deere & Company were worth $1,759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Banque Pictet & Cie SA lifted its position in Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock worth $33,165,000 after buying an additional 1,500 shares during the last quarter. Spectrum Financial Alliance Ltd LLC lifted its position in shares of Deere & Company by 2.9% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock worth $21,021,000 after purchasing an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Deere & Company during the fourth quarter worth $847,000. BankPlus Trust Department bought a new stake in shares of Deere & Company during the fourth quarter worth $1,127,000. Finally, Stenger Family Office LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $3,144,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.7%

Shares of NYSE DE traded down $3.83 during mid-day trading on Thursday, reaching $517.01. 796,949 shares of the company's stock were exchanged, compared to its average volume of 1,397,151. The company's 50-day moving average is $483.40 and its 200-day moving average is $467.81. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The firm has a market capitalization of $140.02 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business's quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the company earned $8.53 EPS. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DE shares. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Morgan Stanley boosted their price target on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Bank of America upped their target price on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Raymond James upped their target price on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $515.19.

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.