Deere & Company $DE Shares Purchased by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its holdings in Deere & Company by 616.6% in the first quarter, now owning nearly 5,000 shares worth over $2.3 million.
• Deere & Company reported $4.75 EPS for the last quarter, exceeding analysts' expectations, despite a 9% year-over-year revenue decline.
• The company recently announced a quarterly dividend of $1.62, reflecting a 1.3% yield and a 31.35% payout ratio.

Vestmark Advisory Solutions Inc. lifted its position in Deere & Company (NYSE:DE - Free Report) by 616.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,966 shares of the industrial products company's stock after purchasing an additional 4,273 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Deere & Company were worth $2,331,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DE. Hughes Financial Services LLC purchased a new stake in Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company in the 4th quarter worth approximately $39,000. Finally, Dogwood Wealth Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth approximately $42,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.4%

Shares of Deere & Company stock traded down $1.9330 during trading hours on Tuesday, hitting $489.1970. The company's stock had a trading volume of 1,493,661 shares, compared to its average volume of 1,368,200. Deere & Company has a 1-year low of $371.76 and a 1-year high of $533.78. The business has a fifty day moving average of $510.56 and a 200 day moving average of $490.14. The company has a market capitalization of $132.49 billion, a PE ratio of 25.57, a P/E/G ratio of 3.10 and a beta of 1.06. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.29 earnings per share. As a group, equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's dividend payout ratio is 33.87%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America upped their price target on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday. BMO Capital Markets restated a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, DA Davidson reduced their target price on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $523.87.

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.