Janus Henderson Group PLC Trims Stock Position in Deere & Company $DE

Janus Henderson Group PLC cut its stake in shares of Deere & Company (NYSE:DE) by 3.0% during the first quarter, HoldingsChannel.com reports. The fund owned 1,125,886 shares of the industrial products company’s stock after selling 34,643 shares during the quarter. Janus Henderson Group PLC’s holdings in Deere & Company were worth $634,126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $2,153,000. NewEdge Advisors LLC lifted its stake in Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 4.5%

Shares of Deere & Company stock opened at $611.20 on Thursday. The firm’s 50 day moving average price is $588.92 and its 200-day moving average price is $579.78. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a market cap of $164.99 billion, a P/E ratio of 34.63, a PEG ratio of 2.70 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the business posted $6.64 EPS. Deere & Company’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 18.28 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. DA Davidson reissued a “buy” rating and issued a $685.00 price objective on shares of Deere & Company in a research note on Friday, July 17th. JPMorgan Chase & Co. increased their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Robert W. Baird cut their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Citigroup boosted their price target on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $642.98.

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.