Castlekeep Investment Advisors LLC Buys New Stake in Deere & Company (NYSE:DE)

Castlekeep Investment Advisors LLC acquired a new position in Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,016 shares of the industrial products company's stock, valued at approximately $1,278,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at about $1,244,094,000. Price T Rowe Associates Inc. MD grew its holdings in 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 period. FMR LLC raised its position in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Deere & Company in the fourth quarter valued at approximately $296,232,000. Finally, Leigh Baldwin & CO. LLC acquired a new position in Deere & Company in the fourth quarter valued at approximately $255,686,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $0.86 during trading hours on Tuesday, reaching $509.20. 1,103,513 shares of the company's stock were exchanged, compared to its average volume of 1,408,677. The company has a market capitalization of $138.20 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The business has a fifty day moving average of $473.20 and a two-hundred day moving average of $459.86. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. 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 announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm's revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $8.53 earnings per share. As a group, research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, March 31st. Deere & Company's dividend payout ratio is presently 31.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DE shares. DA Davidson reaffirmed a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. UBS Group lowered their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Evercore ISI lifted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Morgan Stanley upped their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Finally, Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $516.75.

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.