Deere & Company (DE) Stake Lessened by Creative Planning


Creative Planning cut its holdings in shares of Deere & Company (NYSE:DE) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,725 shares of the industrial products company’s stock after selling 2,754 shares during the period. Creative Planning’s holdings in Deere & Company were worth $5,973,000 at the end of the most recent quarter.


Several other hedge funds have also modified their holdings of DE. Mount Yale Investment Advisors LLC acquired a new position in shares of Deere & Company during the first quarter worth $100,000. Winthrop Partners WNY LLC acquired a new position in shares of Deere & Company during the first quarter worth $114,000. Clarus Wealth Advisors acquired a new position in shares of Deere & Company during the second quarter worth $118,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Deere & Company during the fourth quarter worth $122,000. Finally, Bedel Financial Consulting Inc. acquired a new position in shares of Deere & Company during the first quarter worth $128,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.


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NYSE DE opened at $137.17 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.64 and a current ratio of 1.91. Deere & Company has a 1 year low of $112.87 and a 1 year high of $175.26. The firm has a market capitalization of $44.48 billion, a P/E ratio of 17.17, a PEG ratio of 2.50 and a beta of 0.83.

Deere & Company (NYSE:DE) last released its earnings results on Friday, May 18th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.19). Deere & Company had a net margin of 5.46% and a return on equity of 27.67%. The firm had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.83 billion. During the same period in the previous year, the company earned $2.14 earnings per share. Deere & Company’s revenue was up 34.3% on a year-over-year basis. analysts expect that Deere & Company will post 9.67 earnings per share for the current fiscal year.


The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Friday, June 29th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.01%. This is a positive change from Deere & Company’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, June 28th. Deere & Company’s dividend payout ratio is presently 41.32%.

A number of equities analysts have recently issued reports on the company. Bank of America raised Deere & Company from a “neutral” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Thursday, May 3rd. Robert W. Baird reaffirmed a “buy” rating and set a $173.00 price target on shares of Deere & Company in a research report on Friday, April 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $200.00 price target on shares of Deere & Company in a research report on Wednesday, April 18th. UBS Group cut their target price on Deere & Company from $185.00 to $177.00 and set a “buy” rating on the stock in a research report on Friday. Finally, OTR Global downgraded Deere & Company to a “$139.21” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. Deere & Company presently has an average rating of “Buy” and an average target price of $178.70.


Deere & Company Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)