Manning & Napier Advisors LLC decreased its position in Deere & Company (NYSE:DE - Free Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,735 shares of the industrial products company's stock after selling 2,891 shares during the quarter. Manning & Napier Advisors LLC's holdings in Deere & Company were worth $26,629,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. Wealth Alliance bought a new position in Deere & Company during the fourth quarter worth about $209,000. Bell Bank raised its stake in Deere & Company by 10.4% in the 4th quarter. Bell Bank now owns 2,590 shares of the industrial products company's stock worth $1,097,000 after purchasing an additional 244 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Deere & Company by 8.2% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 342 shares of the industrial products company's stock worth $145,000 after purchasing an additional 26 shares in the last quarter. Finally, Redmond Asset Management LLC bought a new stake in Deere & Company in the 4th quarter valued at about $758,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on DE shares. Citigroup lowered their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Evercore ISI raised their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Finally, Oppenheimer raised their price target on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $515.19.
View Our Latest Stock Analysis on DE
Deere & Company Price Performance
Shares of DE traded down $4.32 during mid-day trading on Friday, reaching $520.66. The company had a trading volume of 1,387,433 shares, compared to its average volume of 1,386,710. The company's 50 day simple moving average is $495.13 and its 200 day simple moving average is $470.82. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a market capitalization of $141.01 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.31 and a beta of 1.09.
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, 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 business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 EPS. The firm's revenue was down 17.9% compared to the same quarter last year. Analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
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 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 31.35%.
Deere & Company 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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