Lyell Wealth Management LP Cuts Stock Holdings in Deere & Company (NYSE:DE)

Lyell Wealth Management LP decreased its position in shares of Deere & Company (NYSE:DE) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,883 shares of the industrial products company’s stock after selling 2,094 shares during the quarter. Lyell Wealth Management LP’s holdings in Deere & Company were worth $5,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares during the last quarter. FMR LLC boosted its holdings in Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in Deere & Company by 94.0% in the third quarter. Quadrature Capital Ltd now owns 301,396 shares of the industrial products company’s stock worth $113,759,000 after purchasing an additional 146,069 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Deere & Company in the fourth quarter worth approximately $43,384,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Deere & Company in the third quarter worth approximately $38,876,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock traded down $2.59 on Wednesday, hitting $394.62. 944,407 shares of the stock traded hands, compared to its average volume of 1,480,431. The firm has a market cap of $109.85 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.50 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The firm has a 50 day simple moving average of $386.62 and a two-hundred day simple moving average of $383.47. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $6.55 EPS. As a group, equities research analysts predict that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s dividend payout ratio is currently 17.12%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DE shares. Stifel Nicolaus dropped their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Morgan Stanley started coverage on shares of Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Evercore ISI raised their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Wells Fargo & Company decreased their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Finally, Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $433.28.

About Deere & Company

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.