3Chopt Investment Partners LLC purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,026 shares of the industrial products company's stock, valued at approximately $1,425,000.
Several other institutional investors and hedge funds have also recently modified their holdings of DE. Orion Capital Management LLC acquired a new stake in Deere & Company in the 4th quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company in the 4th quarter worth about $39,000. Dogwood Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter worth about $42,000. Wood Tarver Financial Group LLC acquired a new stake in Deere & Company in the 4th quarter worth about $43,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Deere & Company in the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Up 1.0%
Shares of Deere & Company stock traded up $4.93 during trading hours on Friday, reaching $513.46. 1,835,337 shares of the company were exchanged, compared to its average volume of 1,358,147. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The stock's fifty day moving average is $500.54 and its 200 day moving average is $472.91. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The firm has a market cap of $139.06 billion, a PE ratio of 24.84, a PEG ratio of 3.26 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company's revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.53 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. Deere & Company's dividend payout ratio is presently 31.35%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on DE. Morgan Stanley boosted their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Truist Financial upped their price objective on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. Barclays boosted 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. Finally, Raymond James Financial boosted 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $515.19.
Read Our Latest Analysis on DE
Deere & Company Profile
(
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.
Featured Articles
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
