6,775 Shares in Deere & Company (NYSE:DE) Purchased by Aviance Capital Partners LLC

Aviance Capital Partners LLC purchased a new position in Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,775 shares of the industrial products company’s stock, valued at approximately $2,783,000.

A number of other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares during the period. Rakuten Securities Inc. bought a new position in Deere & Company during the 4th quarter valued at about $28,000. Naples Money Management LLC bought a new position in Deere & Company during the 4th quarter valued at about $29,000. Private Wealth Management Group LLC bought a new position in Deere & Company during the 4th quarter valued at about $29,000. Finally, Bfsg LLC bought a new position in Deere & Company during the 4th quarter valued at about $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock traded down $5.26 during midday trading on Monday, hitting $368.37. The company’s stock had a trading volume of 153,819 shares, compared to its average volume of 1,507,622. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $101.51 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a 50 day moving average of $385.32 and a two-hundred day moving average of $387.29.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the company posted $9.65 EPS. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.60%. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

Several equities analysts have issued reports on DE shares. Raymond James started coverage on shares of Deere & Company in a research note on Friday. They set an “outperform” rating and a $420.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Citigroup assumed coverage on shares of Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price target for the company. DA Davidson reduced their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $430.55.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.