Gilbert & Cook Inc. Acquires 1,218 Shares of Deere & Company (NYSE:DE)

Key Points

• Gilbert & Cook Inc. increased its stake in Deere & Company by 103.0%, now holding a total of 2,401 shares valued at approximately $1.13 million.
• Deere & Company reported $6.64 earnings per share for the recent quarter, exceeding expectations of $5.72, while its quarterly revenue reached $11.17 billion, beating analyst estimates.
• The company has announced a quarterly dividend of $1.62 per share, representing a 1.25% dividend yield and a payout ratio of 31.35%.

Gilbert & Cook Inc. boosted its stake in Deere & Company (NYSE:DE - Free Report) by 103.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,401 shares of the industrial products company's stock after buying an additional 1,218 shares during the quarter. Gilbert & Cook Inc.'s holdings in Deere & Company were worth $1,127,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC grew its stake in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new position in Deere & Company in the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the fourth quarter worth about $39,000. Finally, Citizens National Bank Trust Department acquired a new position in Deere & Company in the first quarter worth about $45,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

NYSE DE traded up $2.92 on Friday, reaching $517.58. The company's stock had a trading volume of 858,413 shares, compared to its average volume of 1,107,224. The firm has a market cap of $140.18 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08. The business has a 50-day moving average price of $513.03 and a 200 day moving average price of $483.78. Deere & Company has a 52 week low of $340.20 and a 52 week 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.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations 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 prior year, the firm earned $8.53 earnings per share. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Citigroup decreased their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Robert W. Baird lifted their target price on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Morgan Stanley lifted their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of "Hold" and a consensus price target of $515.50.

Deere & Company Company Profile

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.