Massachusetts Financial Services Co. MA cut its position in Deere & Company (NYSE:DE - Free Report) by 4.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,110 shares of the industrial products company's stock after selling 3,045 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Deere & Company were worth $30,090,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in DE. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its holdings in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $42,000. 68.58% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
DE has been the topic of a number of analyst reports. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Barclays upped their price target on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Citigroup reduced their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and an average target price of $515.50.
Check Out Our Latest Report on Deere & Company
Deere & Company Price Performance
Shares of NYSE DE opened at $499.95 on Friday. The stock has a fifty day simple moving average of $512.85 and a two-hundred day simple moving average of $480.65. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The firm has a market cap of $135.40 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 3.16 and a beta of 1.08. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.
Deere & Company (NYSE:DE - Get Free Report) last posted 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. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the company earned $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is 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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