Berkshire Asset Management LLC PA Raises Stock Position in Deere & Company $DE

Key Points

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Berkshire Asset Management LLC PA grew its position in Deere & Company (NYSE:DE - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,516 shares of the industrial products company's stock after acquiring an additional 875 shares during the period. Deere & Company comprises about 1.6% of Berkshire Asset Management LLC PA's portfolio, making the stock its 25th largest holding. Berkshire Asset Management LLC PA's holdings in Deere & Company were worth $35,042,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its stake in Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 21 shares in the last quarter. Tyler Stone Wealth Management raised its stake in Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after purchasing an additional 21 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares in the last quarter. First Bancorp Inc ME raised its stake in Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 23 shares in the last quarter. Finally, Leisure Capital Management raised its stake in Deere & Company by 0.8% during the first quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock valued at $1,355,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 1.7%

Shares of NYSE DE traded up $8.3320 during trading hours on Friday, hitting $495.0920. 1,133,367 shares of the stock were exchanged, compared to its average volume of 1,461,202. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a market cap of $134.09 billion, a PE ratio of 25.88, a PEG ratio of 3.11 and a beta of 1.06. The firm has a fifty day moving average price of $508.58 and a 200-day moving average price of $490.43. Deere & Company has a 12 month low of $374.46 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the business earned $6.29 EPS. On average, sell-side 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 was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DE shares. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. DA Davidson dropped their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Raymond James Financial increased their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $523.87.

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.