SG Americas Securities LLC Sells 123,025 Shares of Deere & Company $DE

SG Americas Securities LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 50.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 122,349 shares of the industrial products company’s stock after selling 123,025 shares during the quarter. SG Americas Securities LLC’s holdings in Deere & Company were worth $68,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Strategic Advocates LLC bought a new position in shares of Deere & Company during the third quarter valued at $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $27,000. Timmons Wealth Management LLC bought a new stake in Deere & Company in the 4th quarter worth about $29,000. McIlrath & Eck LLC bought a new stake in Deere & Company in the 4th quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new position in Deere & Company in the 3rd quarter worth about $32,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. 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. Robert W. Baird dropped their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Argus lifted their target price on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Raymond James Financial decreased their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Trading Up 1.6%

Deere & Company stock opened at $598.80 on Tuesday. The business has a 50-day simple moving average of $573.34 and a two-hundred day simple moving average of $554.17. The company has a market cap of $161.64 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.18 and a beta of 0.92. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. 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 (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating 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 prior year, the firm earned $6.64 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

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