Lifeworks Advisors LLC Boosts Stake in Deere & Company (NYSE:DE)

Lifeworks Advisors LLC grew its stake in shares of Deere & Company (NYSE:DE - Free Report) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,672 shares of the industrial products company's stock after purchasing an additional 842 shares during the quarter. Lifeworks Advisors LLC's holdings in Deere & Company were worth $3,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DE. Assenagon Asset Management S.A. raised its position in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after acquiring an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after purchasing an additional 798 shares in the last quarter. Stenger Family Office LLC bought a new position in Deere & Company in the fourth quarter worth $3,144,000. Stratos Investment Management LLC purchased a new position in Deere & Company during the first quarter valued at $271,000. Finally, Telos Capital Management Inc. boosted its holdings in shares of Deere & Company by 28.2% during the 1st quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock valued at $1,592,000 after buying an additional 746 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Oppenheimer set a $560.00 target price on shares of Deere & Company and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Citigroup decreased their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Barclays lifted their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $515.50.

Deere & Company Stock Performance

DE traded up $2.92 during trading on Friday, reaching $517.58. 858,413 shares of the company's stock were exchanged, compared to its average volume of 1,107,224. 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 has a 1 year low of $340.20 and a 1 year high of $533.78. The company's fifty day simple moving average is $513.03 and its 200-day simple moving average is $483.78. The stock has a market capitalization of $140.18 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 3.26 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the company earned $8.53 EPS. As a group, research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Deere & 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.