Citizens Financial Group Inc. RI acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 14,793 shares of the industrial products company's stock, valued at approximately $9,384,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Timmons Wealth Management LLC bought a new position in Deere & Company in the fourth quarter valued at about $29,000. McIlrath & Eck LLC acquired a new position in Deere & Company during the 4th quarter valued at about $30,000. Portus Wealth Advisors LLC acquired a new position in Deere & Company during the 1st quarter valued at about $32,000. Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the 3rd quarter valued at about $32,000. Finally, SHP Wealth Management bought a new position in shares of Deere & Company in the 4th quarter valued at about $33,000. Institutional investors own 68.58% of the company's stock.
Deere & Company Price Performance
Shares of DE opened at $600.08 on Tuesday. The stock has a market capitalization of $161.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a 50 day moving average of $603.76 and a 200-day moving average of $588.84. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $6.64 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 18.26 EPS for the current fiscal year.
Deere & Company Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were given a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is 36.71%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Raymond James Financial cut their price objective on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, May 22nd. Citigroup boosted their price target on shares of Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Bank of America lowered their target price on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $590.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research note on Friday. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average price target of $641.98.
Check Out Our Latest Stock Analysis on DE
Deere & Company Profile
(
Free Report)
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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