Calamos Advisors LLC Raises Position in Deere & Company (NYSE:DE)

Calamos Advisors LLC raised its stake in Deere & Company (NYSE:DE - Free Report) by 44.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,864 shares of the industrial products company's stock after acquiring an additional 22,890 shares during the period. Calamos Advisors LLC's holdings in Deere & Company were worth $35,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in DE. Orion Capital Management LLC purchased a new position in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $39,000. Citizens National Bank Trust Department purchased a new stake in shares of Deere & Company during the first quarter worth approximately $45,000. Dogwood Wealth Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $42,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Deere & Company in the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Barclays increased their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Morgan Stanley raised their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Robert W. Baird boosted their target price on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Raymond James Financial raised their price target on 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 given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $10.98 on Monday, hitting $509.99. The company's stock had a trading volume of 1,016,957 shares, compared to its average volume of 1,355,424. The company has a market capitalization of $138.12 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.31 and a beta of 1.08. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The firm has a fifty day moving average price of $506.47 and a 200-day moving average price of $475.92. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.53 earnings per share. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company's dividend payout ratio (DPR) 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.