Capital Management Associates Inc lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 100.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,798 shares of the industrial products company's stock after buying an additional 1,900 shares during the quarter. Capital Management Associates Inc's holdings in Deere & Company were worth $1,782,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter worth about $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company in the fourth quarter worth about $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company in the fourth quarter worth about $43,000. Finally, Citizens National Bank Trust Department purchased a new position in Deere & Company in the first quarter valued at about $45,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Down 0.5%
NYSE DE opened at $517.50 on Monday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock's 50 day moving average is $506.47 and its two-hundred day moving average is $475.92. The company has a market capitalization of $140.15 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.31 and a beta of 1.08.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating 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 analysts' expectations of $10.80 billion. During the same period last year, the firm posted $8.53 EPS. The business's revenue was down 17.9% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Citigroup cut their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Raymond James Financial lifted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of "Hold" and an average target price of $515.19.
View Our Latest Stock Report on Deere & Company
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.
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