Deere & Company $DE Shares Sold by Viewpoint Capital Management LLC

Viewpoint Capital Management LLC reduced its stake in Deere & Company (NYSE:DE) by 24.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 686 shares of the industrial products company’s stock after selling 220 shares during the quarter. Viewpoint Capital Management LLC’s holdings in Deere & Company were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Assenagon Asset Management S.A. grew its holdings in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after purchasing an additional 5,053 shares during the period. OLD National Bancorp IN grew its stake in shares of Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after buying an additional 798 shares during the last quarter. Providence Capital Advisors LLC raised its position in shares of Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after buying an additional 303 shares during the period. Finally, Bragg Financial Advisors Inc raised its position in shares of Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after buying an additional 813 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on DE shares. DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Robert W. Baird cut their price objective on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Stock Down 1.2%

Shares of NYSE:DE opened at $457.47 on Tuesday. The firm has a market capitalization of $123.67 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm’s 50-day moving average is $483.57 and its two-hundred day moving average is $489.14.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the business posted $6.29 earnings per share. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. Analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is currently 33.87%.

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.