Deere & Company $DE Shares Sold by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp has significantly reduced its stake in Deere & Company by 69%, selling 92,780 shares and retaining 41,613 shares worth approximately $19.3 million.
• Deere & Company's recent earnings report exceeded expectations, with an EPS of $4.75 and revenue of $10.36 billion, despite a 9% decline year-over-year.
• The company has declared a quarterly dividend of $1.62 per share, scheduled for payment on November 10th, indicating a yield of 1.4% and a payout ratio of 33.87%.

Jones Financial Companies Lllp lessened its position in Deere & Company (NYSE:DE - Free Report) by 69.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,613 shares of the industrial products company's stock after selling 92,780 shares during the quarter. Jones Financial Companies Lllp's holdings in Deere & Company were worth $19,276,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in DE. Chicago Partners Investment Group LLC raised its stake in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 21 shares in the last quarter. Tyler Stone Wealth Management grew its stake in 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 valued at $577,000 after acquiring an additional 21 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of 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 buying an additional 22 shares during the last quarter. Hayek Kallen Investment Management lifted its holdings in shares of Deere & Company by 1.7% during the 1st quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock valued at $610,000 after buying an additional 22 shares during the last quarter. Finally, First Bancorp Inc ME lifted its holdings in Deere & Company by 4.7% in the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after purchasing an additional 23 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on DE shares. DA Davidson cut their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a report on Monday, August 18th. Oppenheimer upped their price target on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Barclays raised their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and an average target price of $520.87.

Deere & Company Stock Performance

Shares of DE stock traded up $4.89 during mid-day trading on Thursday, reaching $476.24. 1,368,492 shares of the company's stock traded hands, compared to its average volume of 1,358,860. 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 12 month low of $383.10 and a 12 month high of $533.78. The firm has a market capitalization of $128.74 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.06 and a beta of 1.00. The firm has a 50 day moving average price of $499.13 and a two-hundred day moving average price of $490.41.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping 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 company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the firm posted $6.29 EPS. Deere & Company's quarterly revenue was down 9.0% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio is presently 33.87%.

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.