Bessemer Group Inc. grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 80.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,725 shares of the industrial products company's stock after buying an additional 107,292 shares during the quarter. Bessemer Group Inc. owned 0.09% of Deere & Company worth $112,985,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Capital World Investors boosted its holdings in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the last quarter. FMR LLC grew its position in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC increased its stake in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after buying an additional 97,203 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Deere & Company during the 4th quarter worth approximately $1,244,094,000. 68.58% of the stock is owned by institutional investors.
Deere & Company Stock Performance
DE traded up $1.60 on Thursday, hitting $508.34. The company's stock had a trading volume of 1,198,645 shares, compared to its average volume of 1,383,203. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm has a market cap of $137.67 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The company's 50 day simple moving average is $498.19 and its 200-day simple moving average is $471.85.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 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 firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the company earned $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
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 dividend of $1.62 per share. 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 is presently 31.35%.
Analyst Ratings Changes
DE has been the subject of several recent analyst reports. Truist Financial upped their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Oppenheimer lifted their target price on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $515.19.
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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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