Madison Asset Management LLC Has $53.96 Million Stake in Deere & Company (NYSE:DE)

Madison Asset Management LLC lowered its stake in Deere & Company (NYSE:DE - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,958 shares of the industrial products company's stock after selling 3,353 shares during the period. Madison Asset Management LLC's holdings in Deere & Company were worth $53,956,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Hughes Financial Services LLC acquired a new stake in Deere & Company in the first quarter valued at $29,000. Cornerstone Planning Group LLC grew its holdings 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 purchasing an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company in the fourth quarter valued at $39,000. Finally, Dogwood Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 0.6%

Shares of NYSE DE traded up $2.92 during mid-day trading on Friday, reaching $517.58. 858,413 shares of the company traded hands, compared to its average volume of 1,107,224. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock has a market cap of $140.18 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. The company's fifty day moving average is $513.03 and its two-hundred day moving average is $483.78. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the company earned $8.53 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

DE has been the topic of several research reports. Raymond James Financial upped their target price on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. DA Davidson restated a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One investment 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $515.50.

Deere & Company 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.