First Pacific Financial grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 92.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,032 shares of the industrial products company's stock after buying an additional 977 shares during the quarter. First Pacific Financial's holdings in Deere & Company were worth $954,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in DE. Aurora Private Wealth Inc. acquired a new position in Deere & Company during the first quarter worth $44,081,000. Spire Wealth Management boosted its position in shares of Deere & Company by 140.0% during the 1st quarter. Spire Wealth Management now owns 6,990 shares of the industrial products company's stock worth $3,281,000 after purchasing an additional 4,078 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in shares of Deere & Company during the 1st quarter worth $19,009,000. Daymark Wealth Partners LLC grew its stake in shares of Deere & Company by 3.0% during the 1st quarter. Daymark Wealth Partners LLC now owns 7,035 shares of the industrial products company's stock worth $3,302,000 after purchasing an additional 202 shares during the period. Finally, Fourth Dimension Wealth LLC increased its holdings in shares of Deere & Company by 88.9% in the 1st quarter. Fourth Dimension Wealth LLC now owns 510 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Price Performance
DE stock traded down $7.23 during trading on Wednesday, hitting $506.87. The stock had a trading volume of 1,189,203 shares, compared to its average volume of 1,384,996. The stock has a market cap of $137.27 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company's 50 day moving average price is $497.10 and its two-hundred day moving average price is $471.61. 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 issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.53 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. 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 1.28%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on DE shares. Evercore ISI boosted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Finally, Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. One research 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 company's stock. Based on data from MarketBeat, Deere & Company has a consensus rating of "Hold" and an average price target of $515.19.
Get Our Latest Stock Report on Deere & Company
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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