Deere & Company (NYSE:DE) Shares Sold by Quent Capital LLC

Quent Capital LLC cut its holdings in shares of Deere & Company (NYSE:DE) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 882 shares of the industrial products company’s stock after selling 70 shares during the period. Quent Capital LLC’s holdings in Deere & Company were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. True Wealth Design LLC lifted its position in 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 period. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $29,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.4 %

Shares of NYSE DE traded up $1.22 during mid-day trading on Tuesday, reaching $346.06. The company had a trading volume of 1,563,908 shares, compared to its average volume of 1,533,433. Deere & Company has a twelve month low of $340.20 and a twelve month high of $441.46. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a market capitalization of $95.36 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The stock’s 50 day moving average is $370.26 and its 200-day moving average is $382.70.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the business posted $9.65 earnings per share. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is presently 17.70%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on DE. Citigroup began coverage on Deere & Company in a report on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target on the stock. DA Davidson dropped their price target on 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 target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. dropped their price target on Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Oppenheimer dropped their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Eleven investment 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, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $426.71.

Deere & Company 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.