Constitution Capital LLC Sells 200 Shares of Deere & Company (NYSE:DE)

Constitution Capital LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 16.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the industrial products company’s stock after selling 200 shares during the period. Constitution Capital LLC’s holdings in Deere & Company were worth $469,000 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. Brighton Jones LLC boosted its holdings in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Onyx Bridge Wealth Group LLC raised its position in shares of Deere & Company by 4.2% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 961 shares of the industrial products company’s stock valued at $407,000 after buying an additional 39 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its position in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after buying an additional 22 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Deere & Company by 1.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,346 shares of the industrial products company’s stock valued at $1,841,000 after buying an additional 70 shares in the last quarter. Finally, YANKCOM Partnership purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $519.62 on Friday. The firm has a market cap of $140.73 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.14 and a beta of 1.09. The company’s 50 day moving average is $479.20 and its 200 day moving average is $465.95. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company’s revenue was down 17.9% compared to the same quarter last year. During the same period last year, the firm earned $8.53 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.25%. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Oppenheimer upped their target price on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. DA Davidson reissued a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. Barclays increased their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Finally, Truist Financial increased their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $515.19.

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.