Klingman & Associates LLC grew its position in Deere & Company (NYSE:DE - Free Report) by 39.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,013 shares of the industrial products company's stock after acquiring an additional 572 shares during the period. Klingman & Associates LLC's holdings in Deere & Company were worth $945,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after buying an additional 798 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company during the 1st quarter worth $13,588,000. Stenger Family Office LLC bought a new stake in shares of Deere & Company during the 4th quarter worth $3,144,000. Finally, Stratos Investment Management LLC bought a new stake in shares of Deere & Company during the 1st quarter worth $271,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Trading Up 2.1%
Shares of DE stock traded up $9.84 during mid-day trading on Friday, reaching $488.68. The stock had a trading volume of 2,673,758 shares, compared to its average volume of 1,367,960. The firm has a market capitalization of $132.35 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.26 and a beta of 1.06. The stock's 50-day moving average price is $511.80 and its two-hundred day moving average price is $489.83. 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 has a 52-week low of $371.16 and a 52-week high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the business earned $6.29 EPS. Deere & Company's revenue was down 9.0% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company's dividend payout ratio is 31.35%.
Wall Street Analysts Forecast Growth
DE has been the subject of a number of recent research reports. Robert W. Baird lowered their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday. Barclays upped their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Raymond James Financial upped their target price on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Evercore ISI boosted their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $521.47.
Check Out Our Latest Stock Analysis on DE
Deere & Company Company Profile
(
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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