Park Avenue Securities LLC Grows Holdings in Deere & Company (NYSE:DE)

Park Avenue Securities LLC boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,503 shares of the industrial products company's stock after purchasing an additional 779 shares during the quarter. Park Avenue Securities LLC's holdings in Deere & Company were worth $2,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Norges Bank purchased a new stake in Deere & Company in the 4th quarter valued at $1,244,094,000. GAMMA Investing LLC increased its stake in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after buying an additional 1,095,736 shares during the period. Finally, FMR LLC increased its stake in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after buying an additional 1,039,395 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $7.82 on Friday, hitting $509.04. The company's stock had a trading volume of 824,497 shares, compared to its average volume of 1,394,113. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a fifty day moving average price of $485.29 and a 200-day moving average price of $468.18. The company has a market capitalization of $137.86 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.

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, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the firm earned $8.53 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a $1.62 dividend. 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 presently 31.35%.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note 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 note on Friday, May 16th. 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 note on Friday, May 16th. UBS Group dropped their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Evercore ISI boosted their price objective 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of "Hold" and an average price target of $515.19.

Deere & Company 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.