Deere & Company (NYSE:DE) Position Lessened by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 23.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,376 shares of the industrial products company’s stock after selling 2,839 shares during the period. Valeo Financial Advisors LLC’s holdings in Deere & Company were worth $3,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DE. Tompkins Financial Corp grew its position in shares of Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 25 shares during the last quarter. Essex Savings Bank grew its position in shares of Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 26 shares during the last quarter. Valley National Advisers Inc. grew its position in shares of Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the last quarter. Finally, Simplicity Solutions LLC grew its position in shares of Deere & Company by 0.5% in the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. DA Davidson decreased their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a report on Friday, May 17th. Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. Finally, Daiwa Capital Markets lifted their price objective on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $427.66.

Deere & Company Trading Down 0.6 %

DE stock traded down $2.16 during trading on Wednesday, hitting $362.79. The company had a trading volume of 668,343 shares, compared to its average volume of 1,510,059. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average price of $383.89 and a 200-day moving average price of $386.94. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The stock has a market cap of $99.97 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter in the previous year, the company posted $9.65 EPS. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 25.59 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.