CX Institutional Raises Stock Holdings in Deere & Company (NYSE:DE)

CX Institutional raised its stake in Deere & Company (NYSE:DE - Free Report) by 596.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,016 shares of the industrial products company's stock after buying an additional 10,290 shares during the quarter. CX Institutional's holdings in Deere & Company were worth $5,640,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Deere & Company during the 4th quarter worth about $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company during the 4th quarter worth about $39,000. Dogwood Wealth Management LLC purchased a new stake in Deere & Company during the 4th quarter worth about $42,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at about $44,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.5%

Shares of NYSE:DE traded down $7.82 during midday trading on Friday, reaching $509.04. The company's stock had a trading volume of 824,497 shares, compared to its average volume of 1,394,113. The firm has a market cap of $137.86 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The business has a 50 day moving average price of $487.24 and a 200 day moving average price of $468.51.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the previous year, the business earned $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analyst Ratings Changes

DE has been the topic of a number of recent analyst reports. Oppenheimer increased their price objective on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Evercore ISI raised their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. JPMorgan Chase & Co. raised their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Robert W. Baird lifted their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $515.19.

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.