Cane Capital Partners LLC Lowers Stock Holdings in Deere & Company $DE

Cane Capital Partners LLC cut its stake in shares of Deere & Company (NYSE:DE) by 64.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,251 shares of the industrial products company’s stock after selling 5,860 shares during the quarter. Cane Capital Partners LLC’s holdings in Deere & Company were worth $1,831,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $1,715,633,000. Capital World Investors boosted its holdings in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after buying an additional 1,893,972 shares in the last quarter. M&T Bank Corp lifted its position in shares of Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after acquiring an additional 1,721,239 shares during the period. Finally, Diamant Asset Management Inc. boosted its stake in shares of Deere & Company by 56,230.0% during the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock worth $343,961,000 after acquiring an additional 609,533 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.9%

DE stock opened at $628.84 on Thursday. The stock has a market capitalization of $169.75 billion, a P/E ratio of 35.63, a PEG ratio of 2.35 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a 50 day moving average price of $576.92 and a two-hundred day moving average price of $561.32.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period last year, the company earned $6.64 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DE shares. Oppenheimer reaffirmed an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Robert W. Baird cut their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company 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.