Traynor Capital Management Inc. Sells 74 Shares of Deere & Company (NYSE:DE)

Traynor Capital Management Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,490 shares of the industrial products company’s stock after selling 74 shares during the quarter. Deere & Company comprises 0.8% of Traynor Capital Management Inc.’s holdings, making the stock its 23rd largest holding. Traynor Capital Management Inc.’s holdings in Deere & Company were worth $8,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its position 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 acquiring an additional 59 shares in the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DE. Morgan Stanley lifted their price target on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lowered their price target on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Stifel Nicolaus lifted their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. DA Davidson lowered their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Finally, TD Cowen boosted their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $433.36.

Deere & Company Stock Up 1.2 %

DE stock traded up $4.39 during mid-day trading on Monday, reaching $379.43. The company had a trading volume of 796,952 shares, compared to its average volume of 1,461,205. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The company has a market capitalization of $104.56 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98. The firm has a fifty day simple moving average of $387.54 and a 200 day simple moving average of $386.92. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $9.65 EPS. Analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.55%. Deere & Company’s payout ratio is currently 17.70%.

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.