Westwood Holdings Group Inc. Has $14.51 Million Holdings in Deere & Company (NYSE:DE)

Key Points

• Westwood Holdings Group Inc. reduced its position in Deere & Company by 4.2%, selling 1,354 shares to hold a total of 30,910 shares valued at approximately $14.5 million.
• Deere & Company reported a quarterly earnings per share of $6.64, exceeding estimates by $0.92, although revenue was down 17.9% year-over-year.
• The stock's current market capitalization stands at $138.28 billion, with a recent share price of $510.57 after a 0.8% increase.

Westwood Holdings Group Inc. decreased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,910 shares of the industrial products company's stock after selling 1,354 shares during the period. Westwood Holdings Group Inc.'s holdings in Deere & Company were worth $14,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Hughes Financial Services LLC purchased a new stake in Deere & Company in the 1st quarter worth $29,000. Cornerstone Planning Group LLC boosted its stake 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 worth $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company in the fourth quarter worth $39,000. Finally, Citizens National Bank Trust Department bought a new position in Deere & Company in the 1st quarter worth about $45,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 1.2%

Shares of NYSE DE traded down $6.35 during midday trading on Monday, reaching $504.02. The company's stock had a trading volume of 272,232 shares, compared to its average volume of 1,325,482. The stock has a market capitalization of $136.50 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.24 and a beta of 1.06. Deere & Company has a fifty-two week low of $343.90 and a fifty-two week high of $533.78. The stock has a 50 day simple moving average of $512.47 and a 200-day simple moving average of $489.38. 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 announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period last year, the firm earned $8.53 earnings per share. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analyst Ratings Changes

A number of analysts recently commented on DE shares. Robert W. Baird lifted their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Barclays raised their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Bank of America upped their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $523.93.

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.