Free Trial

Jefferies Financial Group Inc. Sells 5,463 Shares of Deere & Company $DE

Deere & Company logo with Industrials background
Image from MarketBeat Media, LLC.

Key Points

  • Jefferies Financial Group cut its Deere position by 66.1% in the fourth quarter, selling 5,463 shares and leaving it with 2,796 shares valued at about $1.3 million.
  • Deere’s latest earnings beat expectations, with EPS of $6.55 and revenue of $13.37 billion, both ahead of analyst estimates. The company also posted solid profitability metrics, including an 18.25% return on equity.
  • Deere announced a quarterly dividend of $1.62 per share, and Wall Street remains broadly constructive overall, with a consensus rating of Moderate Buy and an average price target of $638.08.
  • Five stocks to consider instead of Deere & Company.

Jefferies Financial Group Inc. reduced its position in Deere & Company (NYSE:DE - Free Report) by 66.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,796 shares of the industrial products company's stock after selling 5,463 shares during the period. Jefferies Financial Group Inc.'s holdings in Deere & Company were worth $1,302,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DE. Spectrum Financial Alliance Ltd LLC boosted its holdings in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company's stock valued at $39,737,000 after acquiring an additional 30,553 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in Deere & Company by 66.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company's stock valued at $12,606,000 after acquiring an additional 10,974 shares during the period. Public Sector Pension Investment Board boosted its holdings in Deere & Company by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company's stock valued at $9,682,000 after acquiring an additional 2,702 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Deere & Company by 263.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company's stock valued at $7,942,000 after acquiring an additional 12,551 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. purchased a new position in Deere & Company during the 3rd quarter valued at about $434,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. Oppenheimer restated an "outperform" rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday. UBS Group lifted their price objective on Deere & Company from $535.00 to $775.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Robert W. Baird decreased their price objective on Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Bank of America decreased their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Finally, Barclays lifted their price objective on Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $638.08.

View Our Latest Research Report on DE

Deere & Company News Summary

Here are the key news stories impacting Deere & Company this week:

Deere & Company Price Performance

Shares of NYSE DE opened at $539.02 on Friday. 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 has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a market capitalization of $145.59 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The stock's 50-day simple moving average is $572.85 and its 200-day simple moving average is $542.07.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the company earned $6.64 EPS. The business's quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 18.08 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. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is 36.71%.

Deere & Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Deere & Company Right Now?

Before you consider Deere & Company, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.

While Deere & Company currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost)  Everything You Need To Know About The EV Market Cover

Looking to profit from the electric vehicle mega-trend? Click the link to see our list of which EV stocks show the most long-term potential.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines