Deere & Company (NYSE:DE) Stock Position Lowered by Leuthold Group LLC

Leuthold Group LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,379 shares of the industrial products company’s stock after selling 86 shares during the period. Leuthold Group LLC’s holdings in Deere & Company were worth $3,504,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new stake in shares of Deere & Company in the second quarter worth approximately $280,000. Mathes Company Inc. boosted its stake in shares of Deere & Company by 3.1% during the 2nd quarter. Mathes Company Inc. now owns 10,745 shares of the industrial products company’s stock valued at $4,015,000 after buying an additional 320 shares during the period. Kendall Capital Management grew its holdings in shares of Deere & Company by 3.6% during the 2nd quarter. Kendall Capital Management now owns 1,453 shares of the industrial products company’s stock valued at $543,000 after acquiring an additional 50 shares in the last quarter. Garner Asset Management Corp increased its stake in shares of Deere & Company by 1.1% in the second quarter. Garner Asset Management Corp now owns 2,799 shares of the industrial products company’s stock worth $1,046,000 after acquiring an additional 31 shares during the last quarter. Finally, Foresight Group Ltd Liability Partnership increased its stake in shares of Deere & Company by 113.0% in the second quarter. Foresight Group Ltd Liability Partnership now owns 2,418 shares of the industrial products company’s stock worth $903,000 after acquiring an additional 1,283 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $401.11 on Thursday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The company has a market capitalization of $110.53 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.29 and a beta of 0.92. The stock has a 50 day moving average of $374.47 and a two-hundred day moving average of $382.18. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $10.20 earnings per share. As a group, equities analysts expect that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s payout ratio is currently 17.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Oppenheimer decreased their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Evercore ISI raised their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $409.88.

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.