Legato Capital Management LLC Purchases 3,263 Shares of Deere & Company (NYSE:DE)

Legato Capital Management LLC raised its holdings in Deere & Company (NYSE:DE - Free Report) by 59.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,714 shares of the industrial products company's stock after acquiring an additional 3,263 shares during the quarter. Deere & Company comprises 0.6% of Legato Capital Management LLC's portfolio, making the stock its 28th largest position. Legato Capital Management LLC's holdings in Deere & Company were worth $4,090,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter worth about $29,000. Cornerstone Planning Group LLC grew its position in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $39,000. Finally, Citizens National Bank Trust Department acquired a new position in shares of Deere & Company in the 1st quarter valued at approximately $45,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.6%

Shares of Deere & Company stock traded up $2.92 on Friday, reaching $517.58. 858,413 shares of the company were exchanged, compared to its average volume of 1,107,224. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a market capitalization of $140.18 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.26 and a beta of 1.08. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average of $513.03 and a 200 day moving average of $483.78.

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 for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm's revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.53 EPS. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share 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 given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DE shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. DA Davidson reiterated a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Citigroup decreased their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Finally, Robert W. Baird boosted their price objective on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. 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 issued a strong buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average price target of $515.50.

About Deere & Company

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.