Intech Investment Management LLC Sells 1,625 Shares of Deere & Company $DE

Intech Investment Management LLC lowered its holdings in Deere & Company (NYSE:DE) by 13.6% in the 1st quarter, HoldingsChannel reports. The firm owned 10,290 shares of the industrial products company’s stock after selling 1,625 shares during the quarter. Intech Investment Management LLC’s holdings in Deere & Company were worth $4,830,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Activest Wealth Management raised its holdings in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Deere & Company in the 4th quarter worth approximately $34,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the 4th quarter valued at approximately $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE opened at $471.35 on Friday. The company’s fifty day moving average price is $497.38 and its 200 day moving average price is $490.24. Deere & Company has a 1 year low of $386.42 and a 1 year high of $533.78. The company has a market capitalization of $127.42 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm posted $6.29 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DE shares. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Robert W. Baird cut their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, Raymond James Financial upped their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $520.87.

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.