Castlekeep Investment Advisors LLC bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,016 shares of the industrial products company's stock, valued at approximately $1,278,000.
Several other institutional investors and hedge funds have also recently modified their holdings of DE. Robertson Stephens Wealth Management LLC lifted its stake in Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after acquiring an additional 22 shares during the last quarter. Quent Capital LLC increased its position in shares of Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock valued at $3,398,000 after purchasing an additional 24 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in shares of Deere & Company by 1.2% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company's stock worth $896,000 after purchasing an additional 25 shares during the last quarter. Finally, Massachusetts Wealth Management lifted its position in shares of Deere & Company by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 5,127 shares of the industrial products company's stock worth $2,172,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 68.58% of the company's stock.
Wall Street Analysts Forecast Growth
DE has been the topic of a number of analyst reports. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. Morgan Stanley boosted their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Citigroup raised their price objective on shares of Deere & Company from $450.00 to $550.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $516.75.
View Our Latest Analysis on DE
Deere & Company Stock Performance
Shares of Deere & Company stock traded down $2.49 during trading hours on Thursday, hitting $505.50. 329,994 shares of the company were exchanged, compared to its average volume of 1,401,641. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business has a 50-day moving average of $474.56 and a 200-day moving average of $460.54. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The stock has a market capitalization of $137.20 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.14 and a beta of 1.08.
Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.53 earnings per share. As a group, analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business 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 dividend yield of 1.28%. Deere & Company's payout ratio is currently 31.35%.
Deere & 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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