Brown Brothers Harriman & Co. Reduces Holdings in Deere & Company (NYSE:DE)

Brown Brothers Harriman & Co. decreased its position in shares of Deere & Company (NYSE:DE) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,548 shares of the industrial products company’s stock after selling 797 shares during the period. Brown Brothers Harriman & Co.’s holdings in Deere & Company were worth $40,930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. True Wealth Design LLC raised its position in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $30,000. Spartan Planning & Wealth Management purchased a new position in Deere & Company during the 4th quarter valued at $33,000. Finally, Core Wealth Advisors Inc. grew its position in Deere & Company by 466.7% in the 4th quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Finally, Citigroup lowered their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $409.88.

Deere & Company Stock Up 2.0 %

Shares of Deere & Company stock opened at $394.68 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $108.76 billion, a P/E ratio of 11.88, a PEG ratio of 1.29 and a beta of 0.92. The firm’s 50 day moving average price is $371.71 and its 200-day moving average price is $381.63. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46.

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

Deere & Company Dividend Announcement

The firm also recently declared 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. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.