Deere & Company (NYSE:DE) is Spring Capital Management LLC’s 6th Largest Position

Spring Capital Management LLC lessened its holdings in Deere & Company (NYSE:DE) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,514 shares of the industrial products company’s stock after selling 276 shares during the period. Deere & Company comprises 5.7% of Spring Capital Management LLC’s holdings, making the stock its 6th biggest position. Spring Capital Management LLC’s holdings in Deere & Company were worth $7,726,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DE. Oppenheimer Asset Management Inc. raised its stake in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Aviance Capital Partners LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $2,783,000. Royal Fund Management LLC raised its stake in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after acquiring an additional 3,223 shares in the last quarter. New Century Financial Group LLC bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $1,052,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $24,984,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE traded up $3.35 during mid-day trading on Wednesday, reaching $410.00. 51,375 shares of the stock were exchanged, compared to its average volume of 1,456,403. The business’s 50 day moving average is $395.40 and its 200-day moving average is $385.21. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a market capitalization of $112.98 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the firm posted $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Analyst Upgrades and Downgrades

DE has been the subject of several recent analyst reports. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & 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.