Deere & Company $DE Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd cut its holdings in shares of Deere & Company (NYSE:DE) by 13.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,551 shares of the industrial products company’s stock after selling 872 shares during the quarter. Cumberland Partners Ltd’s holdings in Deere & Company were worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Vanguard Group Inc. increased its stake in shares of Deere & Company by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after acquiring an additional 198,332 shares during the period. State Street Corp lifted its position in Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after purchasing an additional 97,049 shares during the period. Capital World Investors lifted its position in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after purchasing an additional 158,584 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Deere & Company by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after purchasing an additional 17,269 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. Raymond James Financial reduced their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Robert W. Baird lowered their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Finally, DA Davidson reissued a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company Price Performance

Deere & Company stock opened at $628.32 on Friday. The company’s fifty day moving average price is $585.05 and its 200 day moving average price is $576.08. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

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, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.64 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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 dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s payout ratio is currently 36.71%.

Deere & Company 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.