Narwhal Capital Management Sells 1,854 Shares of Deere & Company $DE

Narwhal Capital Management trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 68.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 837 shares of the industrial products company's stock after selling 1,854 shares during the period. Narwhal Capital Management's holdings in Deere & Company were worth $426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Brighton Jones LLC raised its stake in shares of Deere & Company by 39.1% during 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 during the last quarter. Portside Wealth Group LLC raised its stake in shares of Deere & Company by 18.7% during the first quarter. Portside Wealth Group LLC now owns 693 shares of the industrial products company's stock worth $325,000 after buying an additional 109 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Deere & Company by 27.4% during the first quarter. Farther Finance Advisors LLC now owns 3,220 shares of the industrial products company's stock worth $1,541,000 after buying an additional 692 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Deere & Company by 30.6% during the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock worth $1,753,000 after buying an additional 876 shares during the last quarter. Finally, Simplicity Wealth LLC raised its stake in shares of Deere & Company by 91.5% during the first quarter. Simplicity Wealth LLC now owns 1,061 shares of the industrial products company's stock worth $498,000 after buying an additional 507 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DE. DA Davidson lowered their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Daiwa Capital Markets lowered their target price on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Finally, Oppenheimer lowered their target price on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $518.59.

Deere & Company Stock Down 0.1%

Deere & Company stock opened at $461.06 on Thursday. The stock has a market capitalization of $124.64 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a 50 day moving average of $481.60 and a 200-day moving average of $488.75.

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

Deere & Company Announces Dividend

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

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.

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