Cypress Asset Management Inc. TX bought a new position in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,898 shares of the industrial products company's stock, valued at approximately $2,580,000.
Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares during the period. YANKCOM Partnership bought a new stake in Deere & Company in the 4th quarter worth approximately $34,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $44,000. Institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of Deere & Company stock traded up $6.52 during trading on Friday, hitting $509.97. 644,049 shares of the company's stock were exchanged, compared to its average volume of 1,400,190. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The stock has a market capitalization of $138.41 billion, a price-to-earnings ratio of 22.61, 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 business has a 50-day simple moving average of $475.02 and a 200-day simple moving average of $461.23.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the prior year, the firm posted $8.53 earnings per share. The firm's quarterly revenue was down 17.9% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is 31.35%.
Wall Street Analysts Forecast Growth
DE has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Morgan Stanley boosted their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $515.19.
Get Our Latest Stock Report on DE
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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