IFP Advisors Inc reduced its position in Deere & Company (NYSE:DE - Free Report) by 55.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,330 shares of the industrial products company's stock after selling 4,139 shares during the quarter. IFP Advisors Inc's holdings in Deere & Company were worth $1,564,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% during the 1st 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 during the period. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth $39,000. Finally, Citizens National Bank Trust Department acquired a new position in shares of Deere & Company during the 1st quarter worth $45,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Deere & Company Stock Performance
Deere & Company stock opened at $506.14 on Wednesday. The company has a market cap of $137.08 billion, a PE ratio of 24.49, a P/E/G ratio of 3.15 and a beta of 1.08. The company has a fifty day moving average price of $512.85 and a two-hundred day moving average price of $481.48. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) 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 analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the business posted $8.53 earnings per share. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.28%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.
Wall Street Analysts Forecast Growth
DE has been the topic of a number of research reports. Truist Financial increased their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. DA Davidson reissued a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average target price of $515.50.
Check Out Our Latest Stock Analysis on Deere & Company
Deere & Company Profile
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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.
Further Reading
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