Deere & Company (NYSE:DE) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lowered its stake in shares of Deere & Company (NYSE:DE) by 17.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,075 shares of the industrial products company’s stock after selling 450 shares during the period. Meyer Handelman Co.’s holdings in Deere & Company were worth $852,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DE. True Wealth Design LLC raised its stake in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $28,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company during the 4th quarter valued at about $28,000. Naples Money Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $29,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Stifel Nicolaus lifted their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley lifted their price target on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. TD Cowen lifted their price target on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, DA Davidson cut their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $433.36.

Deere & Company Stock Down 1.7 %

Shares of NYSE DE opened at $375.04 on Friday. The firm has a market cap of $103.35 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.53 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The business’s 50 day moving average is $387.54 and its two-hundred day moving average is $386.77.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.65 earnings per share. Research analysts predict that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.