Ferguson Wellman Capital Management Inc. Sells 1,177 Shares of Deere & Company $DE

Ferguson Wellman Capital Management Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 14.5% during the 1st quarter, Holdings Channel reports. The fund owned 6,949 shares of the industrial products company’s stock after selling 1,177 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Deere & Company were worth $3,914,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Anchyra Partners LLC grew its holdings in shares of Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. raised its stake in Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after purchasing an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its stake in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in Deere & Company by 2.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 19 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Robert W. Baird decreased their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Wolfe Research lifted their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Finally, DA Davidson reduced their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $642.23.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Deere & Company Trading Up 0.1%

Shares of NYSE DE opened at $587.36 on Monday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a market cap of $158.55 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.17 and a beta of 0.89. The business’s 50 day moving average price is $581.74 and its 200-day moving average price is $567.68.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.64 EPS. On average, sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced 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. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

About Deere & Company

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.