Charles Schwab Investment Management Inc. Grows Holdings in Deere & Company (NYSE:DE)

Key Points

• Charles Schwab Investment Management Inc. increased its position in Deere & Company by 1.7% during the first quarter, owning 1,549,048 shares valued at approximately $727 million.
• Deere & Company reported $6.64 earnings per share for the quarter, surpassing analysts' expectations, despite a 17.9% year-over-year decline in revenue.
• The company has recently announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.3% and a payout ratio of 31.35%.

Charles Schwab Investment Management Inc. grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,549,048 shares of the industrial products company's stock after acquiring an additional 25,725 shares during the period. Charles Schwab Investment Management Inc. owned about 0.57% of Deere & Company worth $727,046,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DE. Sunbelt Securities Inc. raised its stake in Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after buying an additional 22 shares during the last quarter. First Bancorp Inc ME raised its stake in Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after buying an additional 23 shares during the last quarter. Leisure Capital Management raised its stake in Deere & Company by 0.8% during the first quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock worth $1,355,000 after buying an additional 23 shares during the last quarter. World Equity Group Inc. raised its stake in Deere & Company by 4.5% during the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock worth $244,000 after buying an additional 24 shares during the last quarter. Finally, Bank of Jackson Hole Trust raised its stake in Deere & Company by 1.8% during the first quarter. Bank of Jackson Hole Trust now owns 1,322 shares of the industrial products company's stock worth $636,000 after buying an additional 24 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DE. DA Davidson reissued a "buy" rating and set a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Robert W. Baird lifted their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $523.93.

Deere & Company Stock Up 0.8%

Shares of NYSE DE traded up $3.93 during mid-day trading on Friday, reaching $510.57. 883,727 shares of the company's stock traded hands, compared to its average volume of 1,119,567. The stock has a market cap of $138.28 billion, a P/E ratio of 24.70, a PEG ratio of 3.24 and a beta of 1.06. The business has a 50-day simple moving average of $512.47 and a 200 day simple moving average of $489.28. Deere & Company has a 1-year low of $343.38 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last issued 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. The firm had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's revenue was down 17.9% on a year-over-year basis. During the same period last year, the company earned $8.53 earnings per share. On average, analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's payout ratio is 31.35%.

Deere & 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.