Neo Ivy Capital Management Reduces Stock Position in Deere & Company (NYSE:DE)

Neo Ivy Capital Management lowered its position in Deere & Company (NYSE:DE - Free Report) by 59.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,032 shares of the industrial products company's stock after selling 5,888 shares during the quarter. Neo Ivy Capital Management's holdings in Deere & Company were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DE. Fairscale Capital LLC bought a new stake in Deere & Company in the second quarter valued at approximately $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company in the third quarter worth $32,000. Centennial Bank AR raised its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock worth $39,000 after purchasing an additional 84 shares in the last quarter. Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Deere & Company in the third quarter worth $47,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the stock an "in-line" rating in a research note on Monday, August 19th. Finally, Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $443.28.

Deere & Company Price Performance

DE traded up $4.34 on Wednesday, hitting $448.30. 509,412 shares of the company's stock traded hands, compared to its average volume of 1,438,962. The company's 50 day simple moving average is $418.72 and its 200-day simple moving average is $391.32. The firm has a market cap of $122.65 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.90 and a beta of 0.96. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm's quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the company earned $8.26 EPS. As a group, research analysts anticipate that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio (DPR) is currently 25.31%.

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.