Deere & Company $DE Holdings Cut by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Deere & Company by 0.7%, owning approximately 2,894,725 shares valued at $1.36 billion after selling 21,004 shares in the first quarter.
• Several institutional investors have increased their positions in Deere & Company, including Brooklyn Investment Group which raised its stake by 31.6% during the same quarter.
• Deere & Company reported earnings of $4.75 per share for the last quarter, beating estimates, but experienced a 9% decline in revenue compared to the previous year.

Northern Trust Corp lowered its position in Deere & Company (NYSE:DE - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,894,725 shares of the industrial products company's stock after selling 21,004 shares during the quarter. Northern Trust Corp owned about 1.07% of Deere & Company worth $1,358,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $39,000. Finally, Citizens National Bank Trust Department acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Up 1.7%

Shares of NYSE:DE traded up $8.3320 during mid-day trading on Friday, hitting $495.0920. The stock had a trading volume of 1,133,021 shares, compared to its average volume of 1,363,902. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a market cap of $134.09 billion, a PE ratio of 25.88, a P/E/G ratio of 3.15 and a beta of 1.06. Deere & Company has a 12-month low of $374.46 and a 12-month high of $533.78. The company's 50 day moving average is $508.86 and its 200-day moving average is $490.28.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.29 EPS. On average, sell-side analysts predict 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 was paid on Friday, August 8th. Investors of record on Monday, June 30th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's dividend payout ratio is 33.87%.

Analysts Set New Price Targets

Several equities research analysts have commented on DE shares. Robert W. Baird dropped their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. BMO Capital Markets restated a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday. DA Davidson decreased their price objective on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $523.87.

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.