Rehmann Capital Advisory Group Reduces Position in Deere & Company (NYSE:DE)

Rehmann Capital Advisory Group lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 23.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% during the 1st 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 bought a new stake in shares of Deere & Company during the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the 4th quarter valued at $39,000. Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $42,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on DE shares. DA Davidson restated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. Evercore ISI lifted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $515.19.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $510.35 on Thursday. The company has a market capitalization of $138.22 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 3.23 and a beta of 1.08. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm's 50-day moving average is $509.35 and its 200 day moving average is $476.92. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm's revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.53 EPS. Research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company's payout ratio 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.

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