JPL Wealth Management LLC Trims Stock Position in Deere & Company (NYSE:DE)

JPL Wealth Management LLC trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 15.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,961 shares of the industrial products company's stock after selling 1,295 shares during the period. Deere & Company comprises about 1.3% of JPL Wealth Management LLC's investment portfolio, making the stock its 27th biggest position. JPL Wealth Management LLC's holdings in Deere & Company were worth $3,267,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. LPL Financial LLC lifted its position in shares of Deere & Company by 0.9% in the fourth quarter. LPL Financial LLC now owns 363,324 shares of the industrial products company's stock worth $153,941,000 after buying an additional 3,336 shares in the last quarter. Congress Wealth Management LLC DE lifted its position in shares of Deere & Company by 35.7% in the fourth quarter. Congress Wealth Management LLC DE now owns 4,235 shares of the industrial products company's stock worth $1,795,000 after buying an additional 1,115 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in Deere & Company during the fourth quarter valued at approximately $592,000. Finally, Modern Wealth Management LLC raised its position in Deere & Company by 5.1% during the fourth quarter. Modern Wealth Management LLC now owns 3,779 shares of the industrial products company's stock valued at $1,776,000 after purchasing an additional 184 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent research reports. Barclays upped their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird upped their price objective on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Deere & Company currently has an average rating of "Hold" and a consensus target price of $515.50.

Deere & Company Stock Performance

DE traded up $2.92 during midday trading on Friday, hitting $517.58. 858,413 shares of the company were exchanged, compared to its average volume of 1,107,224. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. 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 market capitalization of $140.18 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. The company's 50 day simple moving average is $513.03 and its 200 day simple moving average is $483.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the previous year, the firm posted $8.53 EPS. Deere & Company's revenue was down 17.9% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current 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 dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. 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.