CGN Advisors LLC Makes New Investment in Deere & Company (NYSE:DE)

CGN Advisors LLC purchased a new position in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 885 shares of the industrial products company's stock, valued at approximately $415,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Pineridge Advisors LLC increased its position in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at approximately $34,000. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the 4th quarter valued at $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $42,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Citigroup decreased their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. UBS Group dropped their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $515.19.

Deere & Company Stock Performance

DE traded up $2.79 during trading on Thursday, hitting $510.57. The stock had a trading volume of 1,125,908 shares, compared to its average volume of 1,396,025. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The firm has a market capitalization of $138.58 billion, a P/E ratio of 22.63, a PEG ratio of 2.14 and a beta of 1.08. 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 company's 50-day moving average price is $477.57 and its 200 day moving average price is $464.39.

Deere & Company (NYSE:DE - Get Free Report) last announced 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. The business had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the business posted $8.53 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Deere & Company Profile

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.