Financial Counselors Inc. lessened its stake in Deere & Company (NYSE:DE - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,972 shares of the industrial products company's stock after selling 1,419 shares during the quarter. Financial Counselors Inc.'s holdings in Deere & Company were worth $19,230,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of DE. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Capital World Investors grew its holdings in shares of Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after purchasing an additional 157,224 shares in the last quarter. FMR LLC raised its stake in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after buying an additional 97,203 shares during the period. Finally, Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter valued at $1,244,094,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on DE shares. Barclays boosted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Robert W. Baird increased their price target on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Truist Financial upped their price objective 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $515.19.
View Our Latest Report on DE
Deere & Company Price Performance
Shares of DE traded down $10.98 on Monday, reaching $509.99. The stock had a trading volume of 1,016,957 shares, compared to its average volume of 1,355,423. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The firm has a market capitalization of $138.12 billion, a PE ratio of 24.67, a PEG ratio of 3.31 and a beta of 1.08. The firm has a 50-day moving average of $506.47 and a 200 day moving average of $475.92. 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 announced 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. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion during 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 business's revenue for the quarter was down 17.9% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.
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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