Bay Colony Advisory Group Inc d b a Bay Colony Advisors Invests $233,000 in Deere & Company (NYSE:DE)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 500 shares of the industrial products company's stock, valued at approximately $233,000.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Strategic Financial Concepts LLC grew its position in Deere & Company by 16.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 783 shares of the industrial products company's stock valued at $332,000 after acquiring an additional 110 shares during the period. Bryn Mawr Capital Management LLC grew its position in Deere & Company by 414.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 4,731 shares of the industrial products company's stock valued at $2,005,000 after acquiring an additional 3,812 shares during the period. Wealth Alliance acquired a new position in Deere & Company during the fourth quarter worth $209,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Deere & Company by 3.6% during the fourth quarter. Handelsbanken Fonder AB now owns 94,119 shares of the industrial products company's stock valued at $39,878,000 after acquiring an additional 3,248 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on DE. Citigroup lowered their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Barclays raised their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. 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. BMO Capital Markets restated a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $515.19.

Deere & Company Trading Down 0.8%

Shares of NYSE DE opened at $520.66 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The firm has a market capitalization of $141.01 billion, a P/E ratio of 25.19, a P/E/G ratio of 3.33 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. The company's 50 day simple moving average is $495.13 and its 200 day simple moving average is $470.56.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results 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 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the business posted $8.53 EPS. The firm's quarterly revenue was down 17.9% on a year-over-year basis. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

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.

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