Ayrshire Capital Management LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,000 shares of the industrial products company's stock, valued at approximately $469,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 19.9% during the 4th 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 buying an additional 1,095,736 shares during the last quarter. Capital World Investors lifted its holdings in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after buying an additional 157,224 shares during the last quarter. FMR LLC lifted its holdings in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after buying an additional 97,203 shares during the last quarter. Finally, Norges Bank purchased a new stake in Deere & Company during the 4th quarter worth about $1,244,094,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Stock Performance
DE stock traded down $7.82 during trading on Friday, hitting $509.04. The company had a trading volume of 824,497 shares, compared to its average volume of 1,394,113. The firm has a market cap of $137.86 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The firm has a 50-day moving average price of $485.29 and a 200-day moving average price of $468.18. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.
Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 EPS. The firm's quarterly revenue was down 17.9% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 31.35%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on DE. Citigroup decreased their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. UBS Group decreased their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Oppenheimer lifted their target price on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their target price on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $515.19.
Check Out Our Latest Stock Report on Deere & Company
Deere & Company Company Profile
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Free Report)
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.
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