Clare Market Investments LLC bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,253 shares of the industrial products company's stock, valued at approximately $588,000.
A number of other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $1,244,094,000. GAMMA Investing LLC increased its position in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after buying an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Deere & Company during the fourth quarter worth $541,437,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
DE has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Evercore ISI boosted their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average price target of $515.19.
Get Our Latest Stock Analysis on Deere & Company
Deere & Company Trading Up 1.7%
NYSE DE traded up $8.87 during mid-day trading on Friday, hitting $519.62. The company's stock had a trading volume of 1,473,759 shares, compared to its average volume of 1,396,336. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The stock's fifty day simple moving average is $478.37 and its two-hundred day simple moving average is $465.12. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market capitalization 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 (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the business posted $8.53 EPS. The business's quarterly revenue was down 17.9% on a year-over-year basis. Research analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 31.35%.
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.
See Also
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
