Rhumbline Advisers Sells 12,899 Shares of Deere & Company (NYSE:DE)

Rhumbline Advisers cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 486,850 shares of the industrial products company's stock after selling 12,899 shares during the period. Rhumbline Advisers owned about 0.18% of Deere & Company worth $228,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Norges Bank bought a new position in shares of Deere & Company in the 4th quarter valued at $1,244,094,000. GAMMA Investing LLC lifted its stake in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Deere & Company in the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Deere & Company by 19.9% in the 4th 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 acquiring an additional 1,095,736 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DE has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. UBS Group lowered their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Raymond James raised their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. Finally, Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $515.19.

Deere & Company Stock Up 1.2%

NYSE DE traded up $5.97 during trading hours on Thursday, hitting $513.75. The company's stock had a trading volume of 426,953 shares, compared to its average volume of 1,393,361. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a market capitalization of $139.44 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company's 50-day simple moving average is $477.57 and its two-hundred day simple moving average is $464.39.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter last year, the firm earned $8.53 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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 given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. 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.