Osterweis Capital Management Inc. Sells 11,014 Shares of Deere & Company $DE

Key Points

• Osterweis Capital Management Inc. sold 11,014 shares of Deere & Company, trimming its position by 21.1%, leaving the fund with 41,227 shares worth approximately $19.35 million.
• Deere & Company reported earnings per share of $4.75 for the last quarter, surpassing analyst estimates, but experienced a 9% decline in revenue compared to the same period last year.
• The company has a dividend yield of 1.3%, with a recently declared quarterly dividend of $1.62, indicating a payout ratio of 33.87%.

Osterweis Capital Management Inc. reduced its position in shares of Deere & Company (NYSE:DE - Free Report) by 21.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,227 shares of the industrial products company's stock after selling 11,014 shares during the period. Osterweis Capital Management Inc.'s holdings in Deere & Company were worth $19,350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Deere & Company in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its position in 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 buying an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new position in Deere & Company in the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the fourth quarter valued at about $39,000. Finally, Citizens National Bank Trust Department acquired a new position in Deere & Company in the first quarter valued at about $45,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.7%

Deere & Company stock traded up $8.3320 during mid-day trading on Friday, hitting $495.0920. The stock had a trading volume of 1,133,367 shares, compared to its average volume of 1,461,202. The stock has a 50-day simple moving average of $508.58 and a two-hundred day simple moving average of $490.43. The stock has a market capitalization of $134.09 billion, a PE ratio of 25.88, a P/E/G ratio of 3.11 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 has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.29 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Barclays increased their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday. DA Davidson decreased their target price on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday. Robert W. Baird decreased their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Finally, Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One research 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 company's stock. According to MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and an average target price of $523.87.

Deere & Company 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.