DAVENPORT & Co LLC raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 22.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,906 shares of the industrial products company's stock after buying an additional 4,884 shares during the period. DAVENPORT & Co LLC's holdings in Deere & Company were worth $12,628,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in DE. Orion Capital Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $39,000. Dogwood Wealth Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at approximately $42,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $43,000. Finally, Citizens National Bank Trust Department purchased a new stake in shares of Deere & Company in the 1st quarter valued at approximately $45,000. 68.58% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
DE has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Raymond James Financial lifted their price target on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Morgan Stanley increased 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. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, Oppenheimer upped their target price on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $515.19.
Check Out Our Latest Research Report on Deere & Company
Deere & Company Price Performance
Shares of DE opened at $520.33 on Thursday. 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 firm has a market cap of $140.92 billion, a PE ratio of 25.17, a PEG ratio of 3.23 and a beta of 1.08. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The firm's 50 day moving average price is $504.22 and its 200 day moving average price is $474.18.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly 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 business 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 12.40% and a return on equity of 24.39%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $8.53 EPS. As a group, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 annualized dividend and a yield of 1.25%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.
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.
See Also
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).
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