Fagan Associates Inc. grew its stake in shares of Deere & Company (NYSE:DE - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,391 shares of the industrial products company's stock after purchasing an additional 575 shares during the period. Fagan Associates Inc.'s holdings in Deere & Company were worth $1,122,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $39,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Deere & Company during the 1st quarter worth approximately $45,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Stock Performance
NYSE:DE traded up $3.96 during mid-day trading on Monday, hitting $503.78. The stock had a trading volume of 116,213 shares, compared to its average volume of 1,353,086. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock has a market cap of $136.44 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 3.17 and a beta of 1.08. The company's 50 day simple moving average is $512.85 and its 200 day simple moving average is $481.48. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results 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 net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the prior year, the firm posted $8.53 earnings per share. The business's quarterly revenue was down 17.9% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.29%. Deere & Company's payout ratio is 31.35%.
Analyst Ratings Changes
A number of research firms have recently weighed in on DE. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their target price on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Evercore ISI boosted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $515.50.
View Our Latest Stock Analysis on Deere & Company
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.
Further Reading
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

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