KCM Investment Advisors LLC Lowers Stock Position in Deere & Company (NYSE:DE)

KCM Investment Advisors LLC decreased its position in Deere & Company (NYSE:DE) by 5.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,043 shares of the industrial products company’s stock after selling 696 shares during the period. KCM Investment Advisors LLC’s holdings in Deere & Company were worth $4,126,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DE. True Wealth Design LLC lifted its holdings in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the fourth quarter worth $30,000. Finally, Spartan Planning & Wealth Management purchased a new stake in Deere & Company in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Up 1.0 %

Shares of Deere & Company stock traded up $3.90 during trading hours on Friday, reaching $385.72. 1,413,084 shares of the company were exchanged, compared to its average volume of 1,528,736. The firm has a market cap of $106.29 billion, a PE ratio of 11.61, a PEG ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35. The stock’s fifty day moving average is $367.73 and its 200 day moving average is $379.83.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the business earned $10.20 EPS. Deere & Company’s revenue was down 20.3% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Daiwa Capital Markets raised their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley lowered their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Fourteen 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.com, the stock has an average rating of “Hold” and a consensus price target 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.