Bragg Financial Advisors Inc Grows Stock Position in Deere & Company $DE

Key Points

• Bragg Financial Advisors Inc increased its stake in Deere & Company by 12.7% during the 1st quarter, now owning 7,213 shares valued at $3,386,000.
• Analysts have recently adjusted their price targets for Deere & Company, with estimates ranging up to $566.00, highlighting a mixed outlook with ratings from Strong Buy to Sell.
• Deere & Company reported earnings per share of $4.75 for the last quarter, surpassing estimates, but experienced a 9.0% decrease in revenue year-over-year.

Bragg Financial Advisors Inc boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 12.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,213 shares of the industrial products company's stock after buying an additional 813 shares during the period. Bragg Financial Advisors Inc's holdings in Deere & Company were worth $3,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after purchasing an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. Northern Trust Corp grew its stake in Deere & Company by 12.8% during the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock valued at $1,235,394,000 after purchasing an additional 330,915 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Deere & Company by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock valued at $754,500,000 after purchasing an additional 48,941 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird dropped their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Oppenheimer upped their target price on Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research note 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. Finally, Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. One research 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 company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $523.87.

Deere & Company Price Performance

DE stock traded down $7.8020 during mid-day trading on Monday, reaching $488.1880. 729,473 shares of the company's stock were exchanged, compared to its average volume of 1,359,965. The company has a market cap of $132.22 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06. The stock's 50 day moving average is $508.58 and its 200 day moving average is $490.77. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. 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 issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.29 earnings per share. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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 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 is currently 33.87%.

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.