O Shaughnessy Asset Management LLC Reduces Stake in Deere & Company $DE

O Shaughnessy Asset Management LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,561 shares of the industrial products company’s stock after selling 1,455 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Deere & Company were worth $20,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Strategic Advocates LLC purchased a new position in Deere & Company during the third quarter worth about $25,000. Key Capital Management INC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $27,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $30,000. Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the 3rd quarter valued at approximately $32,000. Finally, Tucker Asset Management LLC acquired a new position in Deere & Company in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. Wolfe Research raised their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Citigroup lowered their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Argus raised their price objective on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Morgan Stanley boosted their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Finally, Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Trading Down 1.7%

Shares of NYSE DE opened at $573.50 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $154.81 billion, a PE ratio of 32.49, a PEG ratio of 2.16 and a beta of 0.92. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock has a fifty day simple moving average of $572.71 and a 200-day simple moving average of $546.79.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.64 EPS. On average, equities analysts forecast that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.