Blair William & Co. IL Grows Stock Position in Deere & Company (NYSE:DE)

Key Points

• Blair William & Co. IL increased its stake in Deere & Company by 0.6%, holding a total of 124,090 shares worth approximately $58.24 million as of the last SEC filing.
• Deere & Company reported an EPS of $6.64 for the last quarter, exceeding analyst estimates of $5.72, but its revenue decreased by 17.9% compared to the same period last year.
• The company announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.3%, set to be paid on August 8th to stockholders of record on June 30th.

Blair William & Co. IL grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,090 shares of the industrial products company's stock after purchasing an additional 681 shares during the period. Blair William & Co. IL's holdings in Deere & Company were worth $58,241,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after buying an additional 798 shares in the last quarter. Stenger Family Office LLC bought a new stake in shares of Deere & Company in the fourth quarter worth $3,144,000. Stratos Investment Management LLC bought a new stake in shares of Deere & Company in the first quarter worth $271,000. Finally, Telos Capital Management Inc. raised its holdings in Deere & Company by 28.2% in the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock valued at $1,592,000 after acquiring an additional 746 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 4.5%

Deere & Company stock opened at $500.94 on Monday. The firm has a 50-day moving average price of $512.25 and a two-hundred day moving average price of $487.73. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The firm has a market capitalization of $135.67 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 3.18 and a beta of 1.06. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

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 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 analyst estimates of $10.80 billion. During the same period in the prior year, the company posted $8.53 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is 31.35%.

Analyst Upgrades and Downgrades

DE has been the subject of several recent analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. DA Davidson reiterated a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. Evercore ISI upped their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Oppenheimer increased their target price on Deere & Company from $555.00 to $560.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $515.50.

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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