Beese Fulmer Investment Management Inc. Has $3.96 Million Stake in Deere & Company (NYSE:DE)

Beese Fulmer Investment Management Inc. reduced its position in Deere & Company (NYSE:DE - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,429 shares of the industrial products company's stock after selling 900 shares during the period. Beese Fulmer Investment Management Inc.'s holdings in Deere & Company were worth $3,956,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC raised its position in shares of Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock worth $426,000 after purchasing an additional 22 shares during the period. Quent Capital LLC lifted its holdings in shares of Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock worth $3,398,000 after buying an additional 24 shares during the period. Massachusetts Wealth Management grew its holdings in shares of Deere & Company by 0.5% during the fourth quarter. Massachusetts Wealth Management now owns 5,127 shares of the industrial products company's stock worth $2,172,000 after buying an additional 25 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised 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 valued at $432,000 after buying an additional 25 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of NYSE DE traded up $6.02 during mid-day trading on Tuesday, reaching $513.86. 1,107,564 shares of the company were exchanged, compared to its average volume of 1,397,995. The stock has a market capitalization of $139.47 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company's 50-day simple moving average is $476.02 and its 200-day simple moving average is $463.74. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm 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% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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 $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Robert W. Baird lifted their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Barclays lifted their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.