Markel Group Inc. boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 877,700 shares of the industrial products company's stock after buying an additional 2,750 shares during the period. Deere & Company comprises 3.7% of Markel Group Inc.'s investment portfolio, making the stock its 4th largest holding. Markel Group Inc. owned about 0.32% of Deere & Company worth $411,948,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after buying an additional 798 shares during the period. Stenger Family Office LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $3,144,000. Stratos Investment Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at $271,000. Finally, Telos Capital Management Inc. grew 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 acquiring an additional 746 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Stock Down 1.5%
DE opened at $499.98 on Friday. The firm has a market cap of $135.41 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 3.22 and a beta of 1.08. 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 firm's 50-day simple moving average is $512.70 and its 200-day simple moving average is $480.12. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.
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 (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 earnings per share. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. Equities research analysts anticipate 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 dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.30%. Deere & Company's payout ratio is 31.35%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on DE shares. Oppenheimer set a $560.00 price objective on shares of Deere & Company and gave the company an "outperform" rating in a research note on Tuesday. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Raymond James Financial raised their price objective on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. DA Davidson reaffirmed a "buy" rating and set a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. Finally, Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of "Hold" and a consensus price target of $515.50.
View Our Latest Analysis on DE
Deere & Company Profile
(
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.
Further Reading

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