Deere & Company (NYSE:DE) Shares Purchased by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC has increased its holdings in Deere & Company by 4.9%, now owning approximately 205,035 shares valued at $96.23 million.
• Several analysts have boosted their price targets for Deere & Company's stock, with Bank of America raising it to $556.00, while the consensus rating remains at "Hold" with an average target price of $523.93.
• Deere & Company recently declared a quarterly dividend of $1.62 per share, resulting in an annualized yield of 1.3%, with a dividend payout ratio of 31.35%.

Kovitz Investment Group Partners LLC increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,035 shares of the industrial products company's stock after acquiring an additional 9,516 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.08% of Deere & Company worth $96,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in Deere & Company in the first quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its position in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new position in Deere & Company in the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the fourth quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DE. Morgan Stanley boosted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Bank of America upped their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Citigroup cut their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Deere & Company presently has a consensus rating of "Hold" and an average target price of $523.93.

Deere & Company Trading Up 1.5%

Deere & Company stock opened at $513.53 on Thursday. The stock has a market cap of $139.08 billion, a PE ratio of 24.84, a P/E/G ratio of 3.21 and a beta of 1.06. The stock has a 50-day moving average price of $512.41 and a 200 day moving average price of $489.86. Deere & Company has a 52 week low of $348.35 and a 52 week high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. During the same period last year, the business posted $6.29 EPS. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 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.

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