Valley National Advisers Inc. lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 44.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,501 shares of the industrial products company's stock after buying an additional 771 shares during the period. Valley National Advisers Inc.'s holdings in Deere & Company were worth $1,173,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in DE. Orion Capital Management LLC purchased a new position in Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the fourth quarter worth about $39,000. Dogwood Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter worth about $42,000. Wood Tarver Financial Group LLC purchased a new position in Deere & Company during the fourth quarter worth about $43,000. Finally, Citizens National Bank Trust Department purchased a new position in Deere & Company during the first quarter worth about $45,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Analyst Ratings Changes
Several research firms have recently commented on DE. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Oppenheimer lifted their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. UBS Group decreased their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Raymond James Financial lifted their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $515.19.
Get Our Latest Research Report on DE
Deere & Company Trading Up 1.0%
NYSE DE opened at $513.46 on Monday. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a 50-day simple moving average of $500.54 and a 200-day simple moving average of $473.14. 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 firm has a market capitalization of $139.06 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results 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 analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company's revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $8.53 EPS. On average, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.
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.
Read More
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).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
