Figure 8 Investment Strategies LLC lowered its stake in Deere & Company (NYSE:DE - Free Report) by 28.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,115 shares of the industrial products company's stock after selling 1,617 shares during the period. Deere & Company makes up 2.0% of Figure 8 Investment Strategies LLC's portfolio, making the stock its 19th largest holding. Figure 8 Investment Strategies LLC's holdings in Deere & Company were worth $1,931,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $43,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Trading Down 0.8%
NYSE:DE opened at $520.66 on Monday. The company has a 50-day moving average price of $495.13 and a 200-day moving average price of $470.82. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a market cap of $141.01 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.31 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results 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 firm had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same period last year, the company posted $8.53 EPS. The company's quarterly revenue was down 17.9% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. Deere & Company's dividend payout ratio is 31.35%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Robert W. Baird increased their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Truist Financial increased their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $515.19.
View Our Latest Report 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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