Miracle Mile Advisors LLC Sells 633 Shares of Deere & Company (NYSE:DE)

Miracle Mile Advisors LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,870 shares of the industrial products company’s stock after selling 633 shares during the period. Miracle Mile Advisors LLC’s holdings in Deere & Company were worth $6,510,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DE. Norges Bank bought a new stake in shares of Deere & Company during the fourth quarter worth $1,244,094,000. GAMMA Investing LLC boosted its holdings in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth $541,437,000. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Finally, FMR LLC boosted its holdings in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on DE shares. Oppenheimer increased their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. BMO Capital Markets restated a “market perform” rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Raymond James increased their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Bank of America increased their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Stock Performance

NYSE DE opened at $519.62 on Friday. The firm has a 50-day moving average of $479.20 and a 200-day moving average of $466.37. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a market cap of $140.73 billion, a PE ratio of 23.03, a P/E/G ratio of 2.14 and a beta of 1.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78.

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

Deere & Company Dividend Announcement

The firm also recently declared 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 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

Deere & Company 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.