Mayflower Financial Advisors LLC Sells 116 Shares of Deere & Company (NYSE:DE)

Mayflower Financial Advisors LLC cut its position in Deere & Company (NYSE:DE) by 11.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 859 shares of the industrial products company’s stock after selling 116 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Deere & Company were worth $321,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DE. Norges Bank bought a new position in Deere & Company in the fourth quarter valued at about $1,248,036,000. Parnassus Investments LLC raised its position in Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares during the last quarter. Swedbank AB bought a new position in Deere & Company in the first quarter valued at about $191,628,000. Vanguard Group Inc. raised its position in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Deere & Company by 3,064.1% in the first quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock valued at $72,038,000 after purchasing an additional 169,843 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DE. Stifel Nicolaus increased their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. TD Cowen raised their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $414.11.

Deere & Company Trading Down 2.1 %

Shares of Deere & Company stock opened at $383.69 on Friday. 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 has a 52 week low of $340.20 and a 52 week high of $417.46. The stock has a 50 day moving average price of $368.87 and a two-hundred day moving average price of $380.21. The stock has a market capitalization of $105.73 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the firm posted $10.20 earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 25.09 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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 paid 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 yield of 1.53%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

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.