Adams Diversified Equity Fund Inc. Makes New $19.01 Million Investment in Deere & Company (NYSE:DE)

Adams Diversified Equity Fund Inc. purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,500 shares of the industrial products company's stock, valued at approximately $19,009,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. First Bancorp Inc ME raised its stake in shares of Deere & Company by 4.7% in the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after acquiring an additional 23 shares in the last quarter. World Equity Group Inc. boosted its position in shares of Deere & Company by 4.5% in the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock valued at $244,000 after acquiring an additional 24 shares during the period. Coppell Advisory Solutions LLC grew its position in Deere & Company by 2.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock worth $432,000 after purchasing an additional 25 shares during the last quarter. Glen Eagle Advisors LLC raised its holdings in Deere & Company by 0.9% in the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock valued at $1,244,000 after acquiring an additional 25 shares in the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC lifted its position in shares of Deere & Company by 2.4% in the 1st quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,058 shares of the industrial products company's stock worth $497,000 after acquiring an additional 25 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.4%

Shares of Deere & Company stock traded down $7.23 during trading on Wednesday, hitting $506.87. The company's stock had a trading volume of 1,189,203 shares, compared to its average volume of 1,384,996. The stock has a 50-day moving average price of $497.10 and a two-hundred day moving average price of $471.61. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The stock has a market cap of $137.27 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

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 the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion during 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%. During the same period last year, the company posted $8.53 EPS. The business's quarterly revenue was down 17.9% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Bank of America upped their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Evercore ISI lifted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average target price of $515.19.

About Deere & Company

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.