Bowen Hanes & Co. Inc. lessened its stake in Deere & Company (NYSE:DE - Free Report) by 0.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,027 shares of the industrial products company's stock after selling 1,305 shares during the quarter. Deere & Company makes up about 1.9% of Bowen Hanes & Co. Inc.'s investment portfolio, making the stock its 18th largest position. Bowen Hanes & Co. Inc. owned about 0.05% of Deere & Company worth $69,007,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after buying an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Deere & Company by 10.7% in 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. Providence Capital Advisors LLC lifted its holdings in shares of Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock worth $6,871,000 after buying an additional 303 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of Deere & Company in the first quarter worth $13,588,000. Finally, Stratos Investment Management LLC purchased a new position in shares of Deere & Company in the first quarter worth $271,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of NYSE DE traded up $8.3320 during midday trading on Friday, reaching $495.0920. 1,133,367 shares of the stock were exchanged, compared to its average volume of 1,363,905. The firm has a market cap of $134.09 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.15 and a beta of 1.06. Deere & Company has a twelve month low of $374.46 and a twelve month high of $533.78. The firm has a 50-day simple moving average of $508.86 and a two-hundred day simple moving average of $490.28. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for 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%. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.29 EPS. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's payout ratio is currently 33.87%.
Wall Street Analyst Weigh In
DE has been the topic of a number of recent research reports. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Truist Financial cut their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Robert W. Baird lowered their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has an average rating of "Moderate Buy" and an average target price of $523.87.
View Our Latest Research Report on DE
About Deere & Company
(
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.
See Also
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access