Edgestream Partners L.P. Grows Holdings in Deere & Company (NYSE:DE)

Edgestream Partners L.P. lifted its stake in Deere & Company (NYSE:DE - Free Report) by 377.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,559 shares of the industrial products company's stock after purchasing an additional 5,186 shares during the period. Edgestream Partners L.P.'s holdings in Deere & Company were worth $3,078,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DE. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its holdings in shares of Deere & Company by 116.1% in the 1st 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 period. Orion Capital Management LLC acquired a new position in Deere & Company in the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the 4th quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in Deere & Company in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Robert W. Baird raised their price target 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. Finally, Evercore ISI increased their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and a consensus price target of $515.50.

Deere & Company Stock Up 0.2%

Shares of DE stock traded up $0.81 during trading hours on Friday, reaching $499.95. The company had a trading volume of 1,058,016 shares, compared to its average volume of 1,344,155. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a market cap of $135.40 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. The business has a fifty day simple moving average of $512.70 and a 200-day simple moving average of $480.12. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

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

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid 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 1.30%. Deere & Company's dividend payout ratio is currently 31.35%.

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.