Allen Capital Group LLC Buys 1,080 Shares of Deere & Company (NYSE:DE)

Allen Capital Group LLC raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,015 shares of the industrial products company's stock after purchasing an additional 1,080 shares during the quarter. Allen Capital Group LLC's holdings in Deere & Company were worth $5,639,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Altman Advisors Inc. lifted its position in shares of Deere & Company by 2.2% during the first quarter. Altman Advisors Inc. now owns 3,807 shares of the industrial products company's stock worth $1,765,000 after acquiring an additional 81 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in shares of Deere & Company by 44.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,147 shares of the industrial products company's stock valued at $538,000 after purchasing an additional 352 shares in the last quarter. Capital A Wealth Management LLC lifted its position in Deere & Company by 75.5% during the first quarter. Capital A Wealth Management LLC now owns 423 shares of the industrial products company's stock valued at $199,000 after purchasing an additional 182 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in Deere & Company by 29.1% during the first quarter. Bryn Mawr Capital Management LLC now owns 1,159 shares of the industrial products company's stock worth $544,000 after purchasing an additional 261 shares during the last quarter. Finally, Bridgewater Advisors Inc. purchased a new position in shares of Deere & Company during the first quarter worth approximately $506,000. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DE shares. Morgan Stanley upped their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Oppenheimer set a $560.00 target price on shares of Deere & Company and gave the company an "outperform" rating in a research note on Tuesday. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, twelve have issued 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 company currently has a consensus rating of "Hold" and an average target price of $515.50.

Deere & Company Stock Performance

DE traded down $0.97 during trading on Friday, hitting $498.18. The company's stock had a trading volume of 458,432 shares, compared to its average volume of 1,357,880. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a market cap of $134.92 billion, a PE ratio of 24.10, a P/E/G ratio of 3.22 and a beta of 1.08. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The business's 50 day simple moving average is $512.70 and its 200-day simple moving average is $480.12.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for 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 firm's revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $8.53 EPS. As a group, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, June 30th. 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.