Jacobs & Co. CA Trims Stock Position in Deere & Company (NYSE:DE)

Jacobs & Co. CA decreased its holdings in Deere & Company (NYSE:DE - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,224 shares of the industrial products company's stock after selling 732 shares during the quarter. Deere & Company accounts for about 1.6% of Jacobs & Co. CA's holdings, making the stock its 15th biggest holding. Jacobs & Co. CA's holdings in Deere & Company were worth $15,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Pineridge Advisors LLC boosted its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares during the period. YANKCOM Partnership purchased a new position in shares of Deere & Company in the 4th quarter valued at about $34,000. Orion Capital Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the fourth quarter worth approximately $35,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Deere & Company in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE DE traded up $2.32 on Friday, reaching $505.77. The stock had a trading volume of 1,686,451 shares, compared to its average volume of 1,404,510. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The business's 50-day moving average price is $475.54 and its 200 day moving average price is $462.00. The stock has a market cap of $137.27 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 EPS. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company's payout ratio is 31.35%.

Analyst Ratings Changes

A number of research analysts recently issued reports on DE shares. Truist Financial lifted their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Oppenheimer lifted their price target on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Raymond James lifted their price target on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $515.19.

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.