Probity Advisors Inc. Lowers Stake in Deere & Company (NYSE:DE)

Probity Advisors Inc. reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,114 shares of the industrial products company's stock after selling 505 shares during the period. Probity Advisors Inc.'s holdings in Deere & Company were worth $1,319,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Norges Bank purchased a new stake in Deere & Company during the fourth quarter worth $1,244,094,000. Castlekeep Investment Advisors LLC purchased a new position in Deere & Company during the fourth quarter valued at $541,437,000. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. FMR LLC lifted its holdings in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Deere & Company during the fourth quarter valued at $296,232,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.5%

Deere & Company stock traded up $2.32 during midday trading on Friday, hitting $505.77. 1,686,451 shares of the stock were exchanged, compared to its average volume of 1,404,510. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock has a market capitalization of $137.27 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.14 and a beta of 1.08. The stock's 50-day simple moving average is $475.54 and its 200 day simple moving average is $462.00. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last released 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. The firm had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company's revenue was down 17.9% compared to the same quarter last year. During the same period last year, the business earned $8.53 earnings per share. On average, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company's payout ratio is currently 31.35%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Barclays increased their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Raymond James increased their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $515.19.

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.