Ameriflex Group Inc. purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 705 shares of the industrial products company's stock, valued at approximately $299,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Deere & Company by 11.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 11,079 shares of the industrial products company's stock worth $4,694,000 after buying an additional 1,119 shares during the period. Cyndeo Wealth Partners LLC increased its stake in shares of Deere & Company by 16.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 1,050 shares of the industrial products company's stock worth $445,000 after buying an additional 150 shares during the period. Jacksonville Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $2,521,000. Finally, AlphaMark Advisors LLC increased its stake in shares of Deere & Company by 34.0% during the fourth quarter. AlphaMark Advisors LLC now owns 138 shares of the industrial products company's stock worth $58,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Raymond James increased their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. UBS Group dropped their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Citigroup dropped their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday. One research 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $515.19.
Check Out Our Latest Research Report on Deere & Company
Deere & Company Stock Performance
NYSE:DE traded up $2.32 during midday trading on Friday, reaching $505.77. The stock had a trading volume of 1,686,451 shares, compared to its average volume of 1,400,784. The stock has a market cap of $137.27 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.14 and a beta of 1.08. The firm has a fifty day simple moving average of $475.54 and a two-hundred day simple moving average of $462.50. 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 has a 12-month low of $340.20 and a 12-month high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the company earned $8.53 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The firm 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 $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company's dividend payout ratio (DPR) is presently 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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