Xponance Inc. Sells 24,500 Shares of Deere & Company (NYSE:DE)

Xponance Inc. lessened its position in Deere & Company (NYSE:DE) by 40.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,651 shares of the industrial products company’s stock after selling 24,500 shares during the period. Xponance Inc.’s holdings in Deere & Company were worth $13,694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DE. True Wealth Design LLC raised its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the last quarter. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC lifted its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management purchased a new stake in shares of Deere & Company in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DE. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Raymond James initiated coverage on shares of Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. Citigroup lowered their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Morgan Stanley lowered their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $410.50.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $408.83 on Tuesday. The firm has a market capitalization of $112.66 billion, a P/E ratio of 12.31, a PEG ratio of 1.29 and a beta of 0.92. The company has a 50 day moving average price of $376.98 and a 200 day moving average price of $383.12. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business earned $10.20 earnings per share. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s payout ratio is currently 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.