CORDA Investment Management LLC. Has $46.50 Million Holdings in Deere & Company (NYSE:DE)

CORDA Investment Management LLC. lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,075 shares of the industrial products company's stock after selling 2,324 shares during the period. Deere & Company comprises 3.7% of CORDA Investment Management LLC.'s portfolio, making the stock its 5th largest holding. CORDA Investment Management LLC.'s holdings in Deere & Company were worth $46,501,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DE. Orion Capital Management LLC acquired a new stake in Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the 4th quarter worth about $39,000. Dogwood Wealth Management LLC bought a new position in Deere & Company during the 4th quarter valued at about $42,000. Wood Tarver Financial Group LLC bought a new position in Deere & Company during the 4th quarter valued at about $43,000. Finally, Citizens National Bank Trust Department acquired a new position in Deere & Company in the first quarter valued at about $45,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on DE shares. Morgan Stanley raised their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. DA Davidson restated a "buy" rating and set a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. increased their target price on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $515.19.

Deere & Company Trading Down 1.4%

Shares of NYSE:DE traded down $7.03 during trading on Friday, hitting $512.17. 1,046,929 shares of the company's stock were exchanged, compared to its average volume of 1,347,582. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm has a market cap of $138.71 billion, a P/E ratio of 24.78, a PEG ratio of 3.25 and a beta of 1.08. The firm has a 50-day moving average price of $510.73 and a two-hundred day moving average price of $478.38. 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 announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (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 firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period last year, the firm earned $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

About Deere & Company

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.