Mutual of America Capital Management LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Mutual of America Capital Management LLC lessened its stake in Deere & Company (NYSE:DE) by 7.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,637 shares of the industrial products company’s stock after selling 2,640 shares during the period. Mutual of America Capital Management LLC’s holdings in Deere & Company were worth $15,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Capital World Investors grew its stake in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after acquiring an additional 157,224 shares during the last quarter. Northern Trust Corp grew its stake in shares of Deere & Company by 12.8% during the fourth quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company’s stock worth $1,235,394,000 after acquiring an additional 330,915 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Deere & Company by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company’s stock worth $1,096,179,000 after acquiring an additional 184,203 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Deere & Company by 2.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company’s stock worth $754,500,000 after acquiring an additional 48,941 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.3%

Shares of DE stock opened at $509.86 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a market cap of $138.09 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.22 and a beta of 1.06. The stock has a 50 day simple moving average of $512.29 and a 200-day simple moving average of $488.40. Deere & Company has a 1-year low of $343.38 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the company earned $8.53 EPS. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s dividend payout ratio is presently 31.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DE. DA Davidson restated a “buy” rating and set a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Raymond James Financial upped their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Evercore ISI upped their target price on Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Finally, Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $515.50.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.