LBP AM SA increased its position in Deere & Company (NYSE:DE - Free Report) by 20.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,269 shares of the industrial products company's stock after purchasing an additional 1,580 shares during the period. LBP AM SA's holdings in Deere & Company were worth $4,350,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake 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 worth $2,792,082,000 after buying an additional 1,095,736 shares during the period. Capital World Investors lifted its position in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after acquiring an additional 157,224 shares during the period. FMR LLC grew its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after purchasing an additional 97,203 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $1,244,094,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on DE. Truist Financial lifted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. DA Davidson restated a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Bank of America boosted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $515.19.
Check Out Our Latest Stock Analysis on Deere & Company
Deere & Company Price Performance
Deere & Company stock traded down $7.03 during mid-day trading on Friday, hitting $512.17. 1,046,929 shares of the company were exchanged, compared to its average volume of 1,346,332. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a market capitalization of $138.71 billion, a P/E ratio of 24.78, a PEG ratio of 3.29 and a beta of 1.08. The business's 50 day simple moving average is $510.73 and its two-hundred day simple moving average is $478.07. 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 (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. 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 previous year, the company posted $8.53 EPS. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. Analysts forecast 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 will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.
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.
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