Deere & Company (NYSE:DE) Shares Purchased by Allied Investment Advisors LLC

Allied Investment Advisors LLC boosted its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,875 shares of the industrial products company's stock after purchasing an additional 527 shares during the period. Deere & Company comprises 2.4% of Allied Investment Advisors LLC's holdings, making the stock its 14th largest position. Allied Investment Advisors LLC's holdings in Deere & Company were worth $12,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DE. Norges Bank acquired a new stake in shares of Deere & Company during the fourth quarter valued at about $1,244,094,000. GAMMA Investing LLC grew its position in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at approximately $541,437,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $2,792,082,000 after buying an additional 1,095,736 shares during the period. Finally, FMR LLC increased its stake in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on DE. Morgan Stanley boosted their target price 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 lifted 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. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Citigroup lowered their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" 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 and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $515.19.

Deere & Company Trading Up 1.1%

Shares of DE stock traded up $5.36 on Thursday, hitting $513.14. The stock had a trading volume of 378,250 shares, compared to its average volume of 1,393,234. The company's 50 day moving average price is $477.57 and its 200-day moving average price is $464.39. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market capitalization of $139.27 billion, a P/E ratio of 22.75, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.53 earnings per share. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. Deere & Company's payout ratio is 31.35%.

Deere & 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.