Invesco LLC Sells 311 Shares of Deere & Company (NYSE:DE)

Invesco LLC cut its position in shares of Deere & Company (NYSE:DE) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,303 shares of the industrial products company’s stock after selling 311 shares during the quarter. Invesco LLC’s holdings in Deere & Company were worth $976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allen Capital Group LLC raised its stake in shares of Deere & Company by 8.3% during the 4th quarter. Allen Capital Group LLC now owns 10,935 shares of the industrial products company’s stock worth $4,633,000 after purchasing an additional 842 shares during the period. Foster Group Inc. lifted its stake in Deere & Company by 0.7% in the fourth quarter. Foster Group Inc. now owns 8,022 shares of the industrial products company’s stock valued at $3,399,000 after purchasing an additional 57 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its holdings in Deere & Company by 38.4% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 1,237 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 343 shares during the period. Gateway Wealth Partners LLC increased its position in Deere & Company by 16.3% in the fourth quarter. Gateway Wealth Partners LLC now owns 1,744 shares of the industrial products company’s stock worth $739,000 after buying an additional 244 shares during the last quarter. Finally, Capital Investment Counsel LLC raised its stake in shares of Deere & Company by 1.2% in the fourth quarter. Capital Investment Counsel LLC now owns 16,137 shares of the industrial products company’s stock valued at $6,837,000 after buying an additional 192 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE traded up $1.89 during mid-day trading on Wednesday, hitting $481.88. 77,744 shares of the company traded hands, compared to its average volume of 1,344,417. The stock has a market cap of $131.24 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.84 and a beta of 0.98. The stock has a 50-day moving average price of $441.75 and a two-hundred day moving average price of $408.11. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period last year, the business posted $8.26 EPS. Equities analysts anticipate that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Oppenheimer upped their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $444.50.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.