Ballentine Partners LLC boosted its position in Deere & Company (NYSE:DE - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,975 shares of the industrial products company's stock after acquiring an additional 865 shares during the period. Ballentine Partners LLC's holdings in Deere & Company were worth $3,274,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its holdings in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the fourth quarter worth approximately $39,000. Citizens National Bank Trust Department bought a new position in Deere & Company in the first quarter worth approximately $45,000. Finally, Dogwood Wealth Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $42,000. Institutional investors own 68.58% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. UBS Group dropped their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. raised their target price on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Oppenheimer raised their target price on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $515.19.
Read Our Latest Analysis on Deere & Company
Deere & Company Stock Performance
NYSE:DE opened at $512.17 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The business has a fifty day simple moving average of $510.73 and a two-hundred day simple moving average of $478.07. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a market capitalization of $138.71 billion, a P/E ratio of 24.78, a P/E/G ratio of 3.29 and a beta of 1.08.
Deere & Company (NYSE:DE - Get Free Report) last released its 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. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the business posted $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.
About Deere & Company
(
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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