PSI Advisors LLC Sells 63 Shares of Deere & Company (NYSE:DE)

PSI Advisors LLC cut its position in shares of Deere & Company (NYSE:DE) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,935 shares of the industrial products company’s stock after selling 63 shares during the period. PSI Advisors LLC’s holdings in Deere & Company were worth $820,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DE. Wellington Management Group LLP boosted its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the period. FMR LLC boosted its holdings in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Pathway Financial Advisers LLC grew its position in Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares during the last quarter. International Assets Investment Management LLC increased its stake in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC lifted its position in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE opened at $430.17 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market cap of $117.69 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The stock has a fifty day simple moving average of $428.56 and a two-hundred day simple moving average of $400.45. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the business earned $8.26 EPS. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. Research analysts predict that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup increased their target price on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $443.94.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.