Tsfg LLC Sells 83 Shares of Deere & Company (NYSE:DE)

Tsfg LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 49.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86 shares of the industrial products company’s stock after selling 83 shares during the quarter. Tsfg LLC’s holdings in Deere & Company were worth $35,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in Deere & Company by 1,180.0% during the fourth 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 period. Rakuten Securities Inc. bought a new stake in Deere & Company in the fourth quarter valued at approximately $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Finally, Bfsg LLC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. DA Davidson cut their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Stifel Nicolaus upped their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Citigroup started coverage on Deere & Company in a research note on Wednesday. They issued a “neutral” rating and a $395.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Finally, Morgan Stanley raised their price objective on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $430.55.

Deere & Company Stock Down 0.4 %

DE opened at $373.63 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $102.96 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The firm has a 50-day simple moving average of $385.32 and a two-hundred day simple moving average of $387.02.

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

Deere & Company Dividend Announcement

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

About Deere & Company

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.