Rehmann Capital Advisory Group Sells 746 Shares of Deere & Company (NYSE:DE)

Rehmann Capital Advisory Group cut its stake in Deere & Company (NYSE:DE - Free Report) by 23.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,465 shares of the industrial products company's stock after selling 746 shares during the quarter. Rehmann Capital Advisory Group's holdings in Deere & Company were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Cornerstone Planning Group LLC boosted its holdings 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 worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new stake in Deere & Company during the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company during the fourth quarter valued at about $39,000. Dogwood Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter valued at about $42,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Deere & Company during the fourth quarter valued at about $43,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America upped their price target 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. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Morgan Stanley upped their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $515.19.

Deere & Company Trading Down 1.3%

DE stock traded down $6.77 during trading on Friday, hitting $512.44. The company had a trading volume of 505,564 shares, compared to its average volume of 1,362,397. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $510.12 and a 200-day moving average price of $477.52. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a market cap of $138.78 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 3.23 and a beta of 1.08.

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 for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 EPS. Deere & Company's revenue was down 17.9% on a year-over-year basis. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is 31.35%.

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.