Deere & Company (NYSE:DE) Position Reduced by Stablepoint Partners LLC

Stablepoint Partners LLC lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,497 shares of the industrial products company's stock after selling 595 shares during the period. Stablepoint Partners LLC's holdings in Deere & Company were worth $2,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pineridge Advisors LLC grew its holdings in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares in the last quarter. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the fourth quarter worth about $34,000. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company in the fourth quarter valued at approximately $39,000. Finally, Dogwood Wealth Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DE shares. Evercore ISI boosted their target price 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. DA Davidson restated a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. Oppenheimer boosted their target price on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, UBS Group decreased their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus target price of $515.19.

Deere & Company Stock Up 1.7%

DE traded up $8.87 during trading on Friday, hitting $519.62. The company had a trading volume of 1,473,759 shares, compared to its average volume of 1,396,705. The company has a market cap of $140.73 billion, a PE ratio of 23.03, a P/E/G ratio of 2.14 and a beta of 1.09. The business has a 50-day moving average of $479.20 and a 200-day moving average of $465.95. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for 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%. The firm's quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.53 earnings per share. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. 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 1.25%. Deere & Company's dividend payout ratio (DPR) is presently 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.