Deere & Company $DE Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its position in shares of Deere & Company (NYSE:DE) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,983 shares of the industrial products company’s stock after selling 5,792 shares during the period. New York Life Investment Management LLC’s holdings in Deere & Company were worth $23,493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. BlackRock Inc. bought a new stake in shares of Deere & Company in the 2nd quarter worth about $11,763,504,000. Wellington Management Group LLP grew its holdings in Deere & Company by 84.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after purchasing an additional 1,412,694 shares during the last quarter. Bank of America Corp DE bought a new position in Deere & Company during the 2nd quarter valued at about $1,685,093,000. Bank of New York Mellon Corp bought a new position in Deere & Company during the 2nd quarter valued at about $1,259,279,000. Finally, Legal & General Group Plc purchased a new stake in Deere & Company in the 2nd quarter worth about $957,456,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on DE shares. 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, August 24th. Barclays upped their target price on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and upped their target price for the company from $640.00 to $800.00 in a research note on Monday, August 31st. Raymond James Financial increased their price target on Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Finally, CICC Research initiated coverage on Deere & Company in a research note on Sunday, September 13th. They set an “outperform” rating for the company. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company News Summary

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

• Positive Sentiment: ETF activity showed net interest in Deere: 36 ETFs added shares while 11 reduced holdings, and Capital Group Growth reported buying $87.4 million of Deere stock. ETF buying report Capital Group Growth report
• Neutral Sentiment: Deere added former Ernst & Young U.S. CEO Julie Boland to its board, bringing finance and governance experience. The related analysis said the shares were about 2% below its fair-value estimate, suggesting limited valuation cushion. Board and valuation analysis
• Negative Sentiment: Deere plans to end production at two Iowa plants and shift some work to other U.S. facilities and Brazil, while also moving production from Illinois and Louisiana. The company says the multiyear restructuring is intended to match capacity with demand; the closures and production shifts may nevertheless raise concerns about demand and the execution of the reorganization. Iowa plant closure report Production realignment report

Deere & Company Stock Down 0.6%

Shares of DE opened at $686.83 on Wednesday. The firm has a fifty day moving average price of $668.81 and a 200-day moving average price of $609.76. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $185.18 billion, a P/E ratio of 38.16, a P/E/G ratio of 1.96 and a beta of 0.89. Deere & Company has a 12-month low of $455.90 and a 12-month high of $721.22.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter last year, the firm posted $4.75 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, September 30th. Deere & Company’s dividend payout ratio is currently 36.00%.

Deere & Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.