Weybosset Research & Management LLC Sells 645 Shares of Deere & Company (NYSE:DE)

Weybosset Research & Management LLC lessened its stake in Deere & Company (NYSE:DE - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,174 shares of the industrial products company's stock after selling 645 shares during the quarter. Deere & Company accounts for about 8.1% of Weybosset Research & Management LLC's investment portfolio, making the stock its 2nd biggest holding. Weybosset Research & Management LLC's holdings in Deere & Company were worth $23,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Pineridge Advisors LLC lifted its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in Deere & Company during the fourth quarter worth $42,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DE shares. Citigroup lowered their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday. Oppenheimer raised their price objective on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised 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. Finally, Barclays boosted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $515.19.

Deere & Company Stock Performance

DE traded up $6.02 during trading hours on Tuesday, reaching $513.86. The company's stock had a trading volume of 1,107,670 shares, compared to its average volume of 1,397,995. The company's 50-day moving average is $476.02 and its 200-day moving average is $463.74. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The firm has a market cap of $139.47 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last issued 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 company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company's revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.53 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 annualized dividend and a yield of 1.26%. Deere & Company's dividend payout ratio is currently 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.