Elevation Point Wealth Partners LLC Trims Stock Position in Deere & Company (NYSE:DE)

Elevation Point Wealth Partners LLC lowered its stake in Deere & Company (NYSE:DE) by 31.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,894 shares of the industrial products company’s stock after selling 869 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Deere & Company were worth $889,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Spectrum Financial Alliance Ltd LLC lifted its position in Deere & Company by 2.9% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after buying an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Deere & Company during the fourth quarter worth about $847,000. BankPlus Trust Department acquired a new stake in shares of Deere & Company during the fourth quarter worth about $1,127,000. Stenger Family Office LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $3,144,000. Finally, First Business Financial Services Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth about $4,254,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $509.04 on Friday. The company has a market capitalization of $137.86 billion, a P/E ratio of 22.56, a PEG ratio of 2.14 and a beta of 1.09. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The business has a 50 day simple moving average of $487.24 and a 200-day simple moving average of $468.53. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the company earned $8.53 earnings per share. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

Analyst Ratings Changes

DE has been the topic of several research reports. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. UBS Group cut their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Citigroup cut their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Oppenheimer upped their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Finally, Morgan Stanley upped their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.