Victory Capital Management Inc. Sells 2,712 Shares of Deere & Company (NYSE:DE)

Victory Capital Management Inc. decreased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,982 shares of the industrial products company's stock after selling 2,712 shares during the period. Victory Capital Management Inc.'s holdings in Deere & Company were worth $41,764,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Deere & Company in the fourth quarter worth about $1,244,094,000. GAMMA Investing LLC grew its holdings 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 worth $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth about $541,437,000. Price T Rowe Associates Inc. MD raised its holdings in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after buying an additional 1,095,736 shares during the period. Finally, FMR LLC grew its holdings in shares of 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 buying an additional 1,039,395 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on DE shares. Oppenheimer set a $560.00 price target on Deere & Company and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. DA Davidson restated a "buy" rating and set a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Robert W. Baird raised their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Bank of America raised their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued 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, the stock presently has an average rating of "Hold" and an average target price of $515.50.

Deere & Company Trading Down 0.7%

Shares of Deere & Company stock traded down $3.58 during trading on Monday, reaching $496.24. 1,110,662 shares of the company were exchanged, compared to its average volume of 1,342,448. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. 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 market capitalization of $134.40 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 3.17 and a beta of 1.08. The business has a 50-day moving average price of $512.85 and a 200-day moving average price of $481.48.

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 for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.53 EPS. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced 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 1.31%. Deere & Company's payout ratio is presently 31.35%.

Deere & 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.