Secure Asset Management LLC Sells 175 Shares of Deere & Company (NYSE:DE)

Secure Asset Management LLC reduced its position in Deere & Company (NYSE:DE) by 20.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 670 shares of the industrial products company’s stock after selling 175 shares during the period. Secure Asset Management LLC’s holdings in Deere & Company were worth $314,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pineridge Advisors LLC raised its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. YANKCOM Partnership bought a new position in Deere & Company in the 4th quarter worth about $34,000. Orion Capital Management LLC bought a new position in Deere & Company in the 4th quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the 4th quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $42,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DE. JPMorgan Chase & Co. lifted their price target on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Barclays lifted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup reduced their target price on Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Finally, Morgan Stanley lifted their price target on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $515.19.

Deere & Company Trading Down 1.0%

Deere & Company stock opened at $508.21 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business’s fifty day simple moving average is $477.57 and its two-hundred day simple moving average is $464.39. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a market capitalization of $137.94 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.53 earnings per share. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Deere & Company Profile

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.