Leigh Baldwin & CO. LLC Makes New $608,000 Investment in Deere & Company (NYSE:DE)

Leigh Baldwin & CO. LLC acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,435 shares of the industrial products company's stock, valued at approximately $608,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 19.9% in 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 purchasing an additional 1,095,736 shares during the period. Capital World Investors increased its stake in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the period. FMR LLC increased its position in shares of Deere & Company by 22.9% in 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. Geode Capital Management LLC raised its position 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 buying an additional 97,203 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $1,244,094,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.3%

NYSE DE traded down $1.74 on Wednesday, hitting $507.89. The company's stock had a trading volume of 739,835 shares, compared to its average volume of 1,405,844. The firm has a market cap of $137.85 billion, a P/E ratio of 22.51, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company's 50-day simple moving average is $473.84 and its 200 day simple moving average is $460.21. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

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

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $516.75.

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.