LGT Group Foundation raised its position in shares of Deere & Company (NYSE:DE - Free Report) by 58.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,744 shares of the industrial products company's stock after acquiring an additional 641 shares during the period. LGT Group Foundation's holdings in Deere & Company were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Hughes Financial Services LLC bought a new position in Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC grew its position in 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 acquiring an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new position in Deere & Company in the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the 4th quarter valued at $39,000. Finally, Citizens National Bank Trust Department bought a new position in Deere & Company in the 1st quarter valued at $45,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on DE shares. JPMorgan Chase & Co. increased their price target on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Oppenheimer raised their price objective on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research report on Friday. Bank of America raised their price objective on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Barclays raised their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $521.47.
Check Out Our Latest Stock Analysis on Deere & Company
Deere & Company Price Performance
Deere & Company stock traded up $9.84 during mid-day trading on Friday, hitting $488.68. 2,673,758 shares of the company were exchanged, compared to its average volume of 1,367,960. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The business's 50 day simple moving average is $511.80 and its two-hundred day simple moving average is $489.83. The company has a market capitalization of $132.35 billion, a P/E ratio of 23.64, a PEG ratio of 3.26 and a beta of 1.06. Deere & Company has a 12-month low of $371.16 and a 12-month high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.29 earnings per share. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's payout ratio is currently 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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