Windward Capital Management Co. CA Trims Position in Deere & Company $DE

Key Points

• Windward Capital Management Co. CA reduced its stake in Deere & Company by 3.8% during the first quarter, resulting in ownership of 15,652 shares worth approximately $7.3 million.
• Analysts are optimistic about Deere, with multiple firms increasing their target prices; Barclays raised it from $475.00 to $530.00 while Bank of America increased theirs from $495.00 to $556.00.
• Deere reported earnings of $4.75 per share, exceeding consensus estimates, although revenue experienced a 9% year-over-year decline.

Windward Capital Management Co. CA cut its holdings in Deere & Company (NYSE:DE - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,652 shares of the industrial products company's stock after selling 610 shares during the quarter. Windward Capital Management Co. CA's holdings in Deere & Company were worth $7,346,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at approximately $42,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE traded down $6.3760 on Thursday, hitting $486.3440. 844,752 shares of the company's stock were exchanged, compared to its average volume of 1,365,353. Deere & Company has a fifty-two week low of $373.55 and a fifty-two week high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $509.47 and a 200-day moving average price of $490.15. The stock has a market cap of $131.72 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 3.13 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the company posted $6.29 EPS. The firm's quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company's payout ratio is 33.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Oppenheimer raised their price objective on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Raymond James Financial raised their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Bank of America raised their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. One research 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $523.87.

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.