Capital Investment Advisors LLC lessened its stake in Deere & Company (NYSE:DE - Free Report) by 78.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,579 shares of the industrial products company's stock after selling 54,659 shares during the quarter. Capital Investment Advisors LLC's holdings in Deere & Company were worth $6,843,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in DE. Compass Financial Services Inc acquired a new stake in Deere & Company in the fourth quarter valued at $254,000. Banque Pictet & Cie SA increased its stake in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock worth $33,165,000 after purchasing an additional 1,500 shares during the last quarter. Spectrum Financial Alliance Ltd LLC raised its holdings in shares of Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock valued at $21,021,000 after purchasing an additional 1,407 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Deere & Company in the 4th quarter valued at about $847,000. Finally, BankPlus Trust Department bought a new position in Deere & Company during the fourth quarter worth about $1,127,000. 68.58% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on DE. Argus set a $510.00 price objective on Deere & Company in a research report on Friday, March 7th. Evercore ISI upped their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. BMO Capital Markets restated a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. UBS Group reduced their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Citigroup lowered their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $515.19.
Read Our Latest Analysis on DE
Deere & Company Stock Performance
DE opened at $519.62 on Friday. The firm has a market cap of $140.73 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business's fifty day moving average is $479.20 and its 200-day moving average is $466.37.
Deere & Company (NYSE:DE - Get Free Report) last announced 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 net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the prior year, the company posted $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company's dividend payout ratio is 31.35%.
Deere & Company 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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