Ferguson Wellman Capital Management Inc. Purchases 1,224 Shares of Deere & Company (NYSE:DE)

Ferguson Wellman Capital Management Inc. increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,327 shares of the industrial products company's stock after buying an additional 1,224 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Deere & Company were worth $5,316,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DE. Orion Capital Management LLC acquired a new stake in Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company during the fourth quarter valued at approximately $39,000. Dogwood Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $42,000. Wood Tarver Financial Group LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $43,000. Finally, Sierra Ocean LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $44,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.7%

Shares of DE stock traded down $3.83 during trading hours on Thursday, reaching $517.01. The company had a trading volume of 796,949 shares, compared to its average volume of 1,397,151. The company has a 50 day moving average of $483.40 and a 200 day moving average of $467.81. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market cap of $140.02 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 2.14 and a beta of 1.09. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted 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 company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm's quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.53 EPS. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current 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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Truist Financial lifted their price objective on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. Evercore ISI lifted their price objective on Deere & Company from $455.00 to $493.00 and gave the company 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 company an "overweight" rating in a report on Wednesday, April 16th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $515.19.

About Deere & Company

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.