Janney Montgomery Scott LLC trimmed its stake in Deere & Company (NYSE:DE - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,875 shares of the industrial products company's stock after selling 3,795 shares during the quarter. Janney Montgomery Scott LLC's holdings in Deere & Company were worth $56,733,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in Deere & Company in the 4th quarter valued at about $1,244,094,000. GAMMA Investing LLC grew its stake in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $541,437,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Deere & Company by 19.9% during the fourth 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 in the last quarter. Finally, FMR LLC raised its position in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. 68.58% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
DE has been the subject of several research reports. Bank of America lifted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Truist Financial upped their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Raymond James lifted their price target on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Deere & Company has an average rating of "Hold" and an average target price of $515.19.
Check Out Our Latest Stock Report on Deere & Company
Deere & Company Price Performance
DE opened at $524.27 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The firm has a 50-day moving average of $489.49 and a 200 day moving average of $468.95. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $141.99 billion, a P/E ratio of 23.24, a PEG ratio of 2.14 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last released its 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 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 period in the prior year, the firm earned $8.53 EPS. The company's revenue was down 17.9% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is 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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