GAMMA Investing LLC increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 30.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,735 shares of the industrial products company's stock after acquiring an additional 876 shares during the quarter. GAMMA Investing LLC's holdings in Deere & Company were worth $1,753,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Deere & Company during the 4th quarter worth about $1,244,094,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD lifted its position in shares of Deere & Company by 19.9% in the fourth 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 in the last quarter. FMR LLC boosted its holdings in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth approximately $296,232,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Stock Performance
DE opened at $513.46 on Friday. The company has a market cap of $139.06 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09. The stock has a 50-day moving average of $500.54 and a 200-day moving average of $472.91. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS 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 company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the company posted $8.53 earnings per share. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors 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 dividend on an annualized basis and a yield of 1.26%. Deere & Company's payout ratio is presently 31.35%.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. BMO Capital Markets restated a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup lowered their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Finally, Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, Deere & Company has a consensus rating of "Hold" and a consensus price target of $515.19.
Read Our Latest Analysis on DE
Deere & Company Company Profile
(
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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