Sei Investments Co. Sells 3,813 Shares of Deere & Company (NYSE:DE)

Sei Investments Co. decreased its stake in Deere & Company (NYSE:DE) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,975 shares of the industrial products company’s stock after selling 3,813 shares during the period. Sei Investments Co. owned 0.06% of Deere & Company worth $63,507,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after acquiring an additional 372 shares in the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of Deere & Company by 857.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock valued at $3,061,000 after acquiring an additional 6,855 shares in the last quarter. Aviance Capital Partners LLC bought a new position in Deere & Company during the first quarter worth about $2,783,000. Finally, Oxford Financial Group LTD. LLC grew its holdings in Deere & Company by 2.9% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 51 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on DE. Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup reduced their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Finally, Bank of America lifted their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $410.50.

Deere & Company Stock Down 0.9 %

NYSE DE opened at $405.89 on Monday. 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 has a 1-year low of $340.20 and a 1-year high of $417.46. The company has a 50 day moving average of $376.24 and a 200-day moving average of $382.88. The company has a market cap of $111.85 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly 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. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s payout ratio is 17.70%.

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.