ASB Consultores LLC Has $268,000 Holdings in Deere & Company (NYSE:DE)

ASB Consultores LLC decreased its holdings in Deere & Company (NYSE:DE) by 47.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 718 shares of the industrial products company’s stock after selling 657 shares during the quarter. ASB Consultores LLC’s holdings in Deere & Company were worth $268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Tompkins Financial Corp grew its position in shares of Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares during the last quarter. Field & Main Bank increased its position in Deere & Company by 0.7% during the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after purchasing an additional 27 shares during the period. Range Financial Group LLC increased its position in Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 27 shares during the period. Cooper Financial Group raised its holdings in Deere & Company by 2.4% during the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 27 shares during the last quarter. Finally, First Foundation Advisors lifted its position in shares of Deere & Company by 2.3% in the 1st quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 28 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup lowered their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $409.88.

Deere & Company Price Performance

DE opened at $405.89 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46. The firm has a 50-day moving average of $376.24 and a 200 day moving average of $382.66. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $111.85 billion, a P/E ratio of 12.22, a PEG ratio of 1.29 and a beta of 0.92.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 annualized dividend and a dividend yield of 1.45%. Deere & Company’s payout ratio is presently 17.70%.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated 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 sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

About Deere & Company

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.