Steigerwald Gordon & Koch Inc. cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,275 shares of the industrial products company's stock after selling 1,393 shares during the period. Deere & Company comprises approximately 2.9% of Steigerwald Gordon & Koch Inc.'s investment portfolio, making the stock its 7th biggest position. Steigerwald Gordon & Koch Inc.'s holdings in Deere & Company were worth $25,943,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Deere & Company during the fourth quarter valued at $1,244,094,000. GAMMA Investing LLC grew its stake in shares of Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at $541,437,000. Price T Rowe Associates Inc. MD raised its position in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Finally, FMR LLC lifted its holdings in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the period. 68.58% of the stock is currently owned by institutional investors.
Deere & Company Stock Up 1.7%
Shares of NYSE DE traded up $8.87 during midday trading on Friday, hitting $519.62. 1,473,759 shares of the stock traded hands, compared to its average volume of 1,396,336. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The business has a 50 day moving average price of $478.37 and a two-hundred day moving average price of $465.12. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market cap of $140.73 billion, a PE ratio of 23.03, a P/E/G ratio of 2.14 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business's revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.53 earnings per share. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors 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 annualized dividend and a yield of 1.25%. Deere & Company's payout ratio is 31.35%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on DE. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Barclays raised their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, UBS Group decreased their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $515.19.
View Our Latest Research Report on DE
Deere & Company 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.
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