Deere & Company (NYSE:DE) Stake Raised by Firetrail Investments PTY Ltd.

Key Points

• Firetrail Investments PTY Ltd. increased its holdings in Deere & Company by 3.6%, acquiring 1,266 additional shares to reach a total of 36,495 shares.
• In recent analyst reports, DA Davidson maintained a "buy" rating with a price target of $542.00, while other firms adjusted their targets, indicating varying levels of market confidence in the stock.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, representing an annualized dividend of $6.48 and a yield of 1.26%.

Firetrail Investments PTY Ltd. boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,495 shares of the industrial products company's stock after buying an additional 1,266 shares during the quarter. Deere & Company makes up 5.0% of Firetrail Investments PTY Ltd.'s holdings, making the stock its 7th biggest holding. Firetrail Investments PTY Ltd.'s holdings in Deere & Company were worth $17,315,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% during the first 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 during the last quarter. Orion Capital Management LLC bought a new position in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the fourth quarter worth about $39,000. Finally, Dogwood Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter worth about $42,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the subject of a number of analyst reports. DA Davidson restated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a 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. Barclays lifted their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Oppenheimer set a $560.00 target price on Deere & Company and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $515.50.

Deere & Company Stock Performance

Shares of NYSE DE traded up $2.92 during trading on Friday, reaching $517.58. 858,413 shares of the stock traded hands, compared to its average volume of 1,107,224. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a 50-day moving average of $513.03 and a 200-day moving average of $484.29. The stock has a market capitalization of $140.18 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results 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 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. Analysts forecast 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. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.25%. 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.