Vident Advisory LLC Sells 4,226 Shares of Deere & Company $DE

Key Points

• Vident Advisory LLC reduced its stake in Deere & Company by 38.7% in the first quarter, holding 6,707 shares worth approximately $3.15 million after selling 4,226 shares.
• Several institutional investors increased their holdings in Deere, with Vanguard Group purchasing an additional 185,671 shares, raising its stake to over $10 billion.
• Deere's most recent quarterly earnings exceeded expectations, reporting $4.75 EPS on revenues of $10.36 billion, despite a 9% year-over-year decline in revenue.

Vident Advisory LLC lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 38.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,707 shares of the industrial products company's stock after selling 4,226 shares during the period. Vident Advisory LLC's holdings in Deere & Company were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new stake in Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC lifted its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company during the fourth quarter worth approximately $39,000. Finally, Dogwood Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $42,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE DE traded down $2.16 during mid-day trading on Friday, reaching $472.74. The company had a trading volume of 1,261,824 shares, compared to its average volume of 1,358,022. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a one year low of $378.66 and a one year high of $533.78. The firm has a market cap of $127.80 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 3.01 and a beta of 1.00. The business's 50-day simple moving average is $502.14 and its 200 day simple moving average is $491.07.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $6.29 earnings per share. On average, research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's payout ratio is currently 33.87%.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Robert W. Baird cut their price objective on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Bank of America increased 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. Finally, Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $520.87.

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.