Deere & Company $DE Stock Position Cut by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in Deere & Company (NYSE:DE) by 2.7% in the 1st quarter, Holdings Channel reports. The firm owned 246,165 shares of the industrial products company’s stock after selling 6,849 shares during the period. Deere & Company makes up about 0.9% of Gabelli Funds LLC’s portfolio, making the stock its 10th biggest position. Gabelli Funds LLC’s holdings in Deere & Company were worth $138,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Compound Planning Inc. raised its stake in Deere & Company by 8.1% in the first quarter. Compound Planning Inc. now owns 4,342 shares of the industrial products company’s stock worth $2,446,000 after buying an additional 325 shares in the last quarter. Modern Wealth Management LLC boosted its position in Deere & Company by 10.4% during the 1st quarter. Modern Wealth Management LLC now owns 4,086 shares of the industrial products company’s stock valued at $2,332,000 after acquiring an additional 384 shares in the last quarter. Inceptionr LLC bought a new stake in Deere & Company during the 1st quarter valued at approximately $1,179,000. Liberty One Investment Management LLC grew its holdings in shares of Deere & Company by 31.5% during the 1st quarter. Liberty One Investment Management LLC now owns 10,588 shares of the industrial products company’s stock worth $5,964,000 after acquiring an additional 2,537 shares during the period. Finally, RMG Wealth Management LLC raised its position in shares of Deere & Company by 109.1% in the 1st quarter. RMG Wealth Management LLC now owns 1,769 shares of the industrial products company’s stock worth $1,042,000 after acquiring an additional 923 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $628.32 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average price is $585.05 and its 200-day moving average price is $576.08. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The stock has a market cap of $169.61 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.57 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $6.64 EPS. Equities research analysts anticipate that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Citigroup upped their price target on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. DA Davidson reiterated a “buy” rating and issued a $685.00 price objective on shares of Deere & Company in a report on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Finally, Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a report on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.