Waycross Investment Management Co Decreases Stock Holdings in Deere & Company (NYSE:DE)

Waycross Investment Management Co lessened its holdings in Deere & Company (NYSE:DE) by 10.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,990 shares of the industrial products company’s stock after selling 449 shares during the quarter. Deere & Company makes up about 1.5% of Waycross Investment Management Co’s holdings, making the stock its 18th largest position. Waycross Investment Management Co’s holdings in Deere & Company were worth $1,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DE. Vanguard Group Inc. boosted its holdings in shares of Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares in the last quarter. Janus Henderson Group PLC lifted its position in Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after acquiring an additional 19,200 shares during the last quarter. Legal & General Group Plc boosted its stake in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after purchasing an additional 150,713 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Raymond James began coverage on shares of Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Oppenheimer lowered their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $410.50.

Deere & Company Price Performance

Shares of DE traded down $0.75 during mid-day trading on Friday, reaching $407.99. 877,896 shares of the company’s stock were exchanged, compared to its average volume of 1,501,564. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a market cap of $112.43 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.36 and a beta of 0.92. The company has a 50-day simple moving average of $383.08 and a two-hundred day simple moving average of $385.15.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm earned $10.20 EPS. On average, sell-side analysts predict that Deere & Company will post 25.03 EPS for the current fiscal 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 annualized dividend and a yield of 1.44%. Deere & Company’s payout ratio is currently 17.70%.

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.