Lake Street Advisors Group LLC Lowers Holdings in Deere & Company (NYSE:DE)

Lake Street Advisors Group LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,419 shares of the industrial products company’s stock after selling 102 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Deere & Company were worth $907,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DE. Harbor Investment Advisory LLC increased its holdings in shares of Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 372 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Deere & Company by 857.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after purchasing an additional 6,855 shares in the last quarter. Aviance Capital Partners LLC bought a new stake in shares of Deere & Company in the 1st quarter worth $2,783,000. Oxford Financial Group LTD. LLC grew its holdings in shares of Deere & Company by 2.9% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 51 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Deere & Company by 22.3% in the fourth quarter. First Trust Advisors LP now owns 75,832 shares of the industrial products company’s stock worth $30,323,000 after acquiring an additional 13,833 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $381.56 on Friday. The stock’s 50-day simple moving average is $369.04 and its 200-day simple moving average is $380.51. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46. The company has a market capitalization of $105.15 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.28 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the business earned $10.20 earnings per share. As a group, analysts expect that Deere & Company will post 25.09 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Citigroup cut their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $414.11.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.