Jaffetilchin Investment Partners LLC Lowers Stake in Deere & Company (NYSE:DE)

Jaffetilchin Investment Partners LLC cut its position in shares of Deere & Company (NYSE:DE) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,810 shares of the industrial products company’s stock after selling 39 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Deere & Company were worth $1,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC boosted its position 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 acquiring an additional 59 shares during the last quarter. Pineridge Advisors LLC boosted its position in shares of 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 acquiring an additional 58 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $29,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $33,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DE. Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. DA Davidson reduced their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $414.11.

Deere & Company Price Performance

DE stock traded up $3.92 during trading on Friday, hitting $385.74. The company had a trading volume of 1,413,160 shares, compared to its average volume of 1,528,736. The firm has a market capitalization of $106.30 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.59 and a beta of 0.93. The business has a 50 day moving average of $367.94 and a 200 day moving average of $379.81. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the company earned $10.20 EPS. Deere & Company’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.52%. Deere & Company’s payout ratio is presently 17.70%.

Insiders Place Their Bets

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

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.