Deere & Company (NYSE:DE) Stock Position Lifted by Close Asset Management Ltd

Close Asset Management Ltd boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,003 shares of the industrial products company's stock after acquiring an additional 1,944 shares during the quarter. Close Asset Management Ltd's holdings in Deere & Company were worth $18,318,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC increased its stake in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. LPL Financial LLC boosted its stake in Deere & Company by 0.9% in the 4th quarter. LPL Financial LLC now owns 363,324 shares of the industrial products company's stock worth $153,941,000 after purchasing an additional 3,336 shares during the period. Congress Wealth Management LLC DE grew its holdings in shares of Deere & Company by 35.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 4,235 shares of the industrial products company's stock valued at $1,795,000 after acquiring an additional 1,115 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in Deere & Company in the 4th quarter valued at about $592,000. Finally, Modern Wealth Management LLC raised its holdings in Deere & Company by 5.1% in the 4th quarter. Modern Wealth Management LLC now owns 3,779 shares of the industrial products company's stock valued at $1,776,000 after acquiring an additional 184 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 2.0%

Shares of Deere & Company stock opened at $506.14 on Wednesday. The company has a market cap of $137.08 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 3.15 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 company's 50 day moving average is $512.85 and its 200 day moving average is $481.48. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the prior year, the business posted $8.53 earnings per share. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company 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 dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Ratings Changes

A number of research analysts have weighed in on DE shares. Morgan Stanley boosted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Raymond James Financial lifted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Barclays boosted their target price 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. Finally, Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.

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