Envestnet Portfolio Solutions Inc. lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,683 shares of the industrial products company's stock after selling 913 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Deere & Company were worth $1,728,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Deere & Company in the 4th quarter worth about $1,244,094,000. GAMMA Investing LLC raised its position in shares of Deere & Company by 61,215.9% in the 1st 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 purchased a new position in shares of Deere & Company in the 4th quarter worth about $541,437,000. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 19.9% in 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 raised its position in shares of Deere & Company by 22.9% in the 4th 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 last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of DE stock traded up $0.09 during trading hours on Tuesday, reaching $514.17. 1,215,554 shares of the company traded hands, compared to its average volume of 1,385,779. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a market cap of $139.25 billion, a P/E ratio of 24.88, a P/E/G ratio of 3.26 and a beta of 1.09. The firm has a 50-day moving average price of $497.10 and a 200 day moving average price of $471.61.
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 (EPS) for the quarter, beating 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 firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter last year, the business 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, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.26%. Deere & Company's dividend payout ratio is currently 31.35%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Barclays lifted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Evercore ISI lifted their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Morgan Stanley lifted their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Argus set a $510.00 price objective on Deere & Company in a report on Friday, March 7th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of "Hold" and an average target price of $515.19.
Get Our Latest Analysis on DE
About Deere & Company
(
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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