Telos Capital Management Inc. grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 28.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,391 shares of the industrial products company's stock after buying an additional 746 shares during the quarter. Telos Capital Management Inc.'s holdings in Deere & Company were worth $1,592,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of DE. Assenagon Asset Management S.A. raised its holdings in 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 valued at $6,395,000 after acquiring an additional 5,053 shares during the period. Stenger Family Office LLC bought a new position in Deere & Company in the 4th quarter valued at about $3,144,000. Stratos Investment Management LLC bought a new position in Deere & Company in the 1st quarter valued at about $271,000. Westpac Banking Corp raised its holdings in Deere & Company by 17.9% in the 4th 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 during the period. Finally, Atlas Capital Advisors Inc. raised its holdings in Deere & Company by 420.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 7,057 shares of the industrial products company's stock valued at $2,990,000 after acquiring an additional 5,700 shares during the period. 68.58% of the stock is owned by institutional investors.
Deere & Company Price Performance
Shares of NYSE DE traded down $7.03 during trading hours on Friday, hitting $512.17. 1,046,929 shares of the stock were exchanged, compared to its average volume of 1,347,582. 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 company has a market cap of $138.71 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 3.25 and a beta of 1.08. The company's fifty day simple moving average is $510.73 and its two-hundred day simple moving average is $478.69. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates 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 for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the business posted $8.53 EPS. On average, sell-side analysts predict 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. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company's dividend payout ratio is 31.35%.
Analysts Set New Price Targets
DE has been the topic of several research analyst reports. Citigroup lowered their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Morgan Stanley increased their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Barclays increased their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. BMO Capital Markets restated a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Robert W. Baird increased their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $515.19.
Read Our Latest Analysis on DE
Deere & Company Company Profile
(
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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