Cambridge Investment Research Advisors Inc. reduced its stake in Deere & Company (NYSE:DE - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,150 shares of the industrial products company's stock after selling 626 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Deere & Company were worth $30,578,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in DE. Orion Capital Management LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter valued at $39,000. Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth $42,000. Wood Tarver Financial Group LLC bought a new position in Deere & Company during the fourth quarter valued at about $43,000. Finally, Marquette Asset Management LLC acquired a new position in Deere & Company during the first quarter worth about $49,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. DA Davidson reissued a "buy" rating and set a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Evercore ISI raised their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Argus set a $510.00 price target on Deere & Company in a report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $515.19.
Get Our Latest Analysis on Deere & Company
Deere & Company Stock Down 0.8%
NYSE:DE opened at $520.66 on Monday. The business's fifty day moving average price is $495.13 and its 200 day moving average price is $470.82. The firm has a market capitalization of $141.01 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.31 and a beta of 1.09. 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 has a 1-year low of $340.20 and a 1-year high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 24.39% and a net margin of 12.40%. The firm's quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.53 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company's dividend payout ratio is presently 31.35%.
Deere & Company Profile
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Free Report)
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.
Further Reading
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