Fortitude Advisory Group L.L.C. Sells 36 Shares of Deere & Company (NYSE:DE)

Fortitude Advisory Group L.L.C. reduced its stake in Deere & Company (NYSE:DE) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,331 shares of the industrial products company’s stock after selling 36 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Deere & Company were worth $602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $1,244,094,000. GAMMA Investing LLC boosted its holdings in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after acquiring an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth $541,437,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $2,792,082,000 after acquiring an additional 1,095,736 shares in the last quarter. Finally, FMR LLC raised its position in shares of Deere & Company by 22.9% in the 4th 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. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DE shares. Raymond James lifted their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Citigroup reduced their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. UBS Group decreased their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Oppenheimer increased their price target on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Trading Up 2.9%

DE opened at $524.27 on Tuesday. 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’s 50 day moving average price is $489.49 and its 200-day moving average price is $468.95. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The stock has a market cap of $141.99 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.14 and a beta of 1.09.

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, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. The company’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.53 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 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.