Convergence Financial LLC Buys 579 Shares of Deere & Company (NYSE:DE)

Convergence Financial LLC lifted its stake in Deere & Company (NYSE:DE - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,835 shares of the industrial products company's stock after purchasing an additional 579 shares during the period. Convergence Financial LLC's holdings in Deere & Company were worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DE. Assenagon Asset Management S.A. boosted its position in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Deere & Company in the fourth quarter worth $847,000. Stenger Family Office LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth $3,144,000. First Business Financial Services Inc. purchased a new stake in shares of Deere & Company in the fourth quarter worth $4,254,000. Finally, Westpac Banking Corp increased its holdings in shares of Deere & Company by 17.9% during the fourth quarter. Westpac Banking Corp now owns 11,904 shares of the industrial products company's stock valued at $5,044,000 after acquiring an additional 1,809 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 1.0%

Shares of NYSE:DE opened at $513.46 on Friday. The stock's 50-day simple moving average is $500.54 and its two-hundred day simple moving average is $472.91. The stock has a market capitalization of $139.06 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.26 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 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE - Get Free Report) last posted 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. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm's revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $8.53 earnings per share. Analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. DA Davidson reiterated a "buy" rating and set a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. UBS Group reduced their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Barclays upped their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of "Hold" and a consensus price target of $515.19.

Deere & Company 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.

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