Viewpoint Capital Management LLC Sells 220 Shares of Deere & Company $DE

Viewpoint Capital Management LLC lessened its stake in Deere & Company (NYSE:DE) by 24.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 686 shares of the industrial products company’s stock after selling 220 shares during the period. Viewpoint Capital Management LLC’s holdings in Deere & Company were worth $349,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DE. Brighton Jones LLC raised its stake in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Deere & Company by 15.1% in the first quarter. Sivia Capital Partners LLC now owns 549 shares of the industrial products company’s stock worth $258,000 after buying an additional 72 shares during the last quarter. Wedmont Private Capital raised its stake in Deere & Company by 10.2% in the 1st quarter. Wedmont Private Capital now owns 3,067 shares of the industrial products company’s stock worth $1,408,000 after acquiring an additional 285 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Deere & Company by 16.5% in the first quarter. Park Avenue Securities LLC now owns 5,503 shares of the industrial products company’s stock worth $2,583,000 after purchasing an additional 779 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Deere & Company by 8.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 12,114 shares of the industrial products company’s stock valued at $5,686,000 after acquiring an additional 931 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.2%

Shares of DE opened at $457.47 on Tuesday. 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 has a one year low of $387.03 and a one year high of $533.78. The stock has a market capitalization of $123.67 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.98 and a beta of 1.02. The stock has a 50 day moving average price of $483.57 and a 200 day moving average price of $489.14.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DE shares. DA Davidson reduced their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Robert W. Baird reduced their price target on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Wolfe Research lowered their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $518.18.

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.