MJP Associates Inc. ADV Takes $236,000 Position in Deere & Company (NYSE:DE)

MJP Associates Inc. ADV acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 502 shares of the industrial products company's stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company in the fourth quarter valued at $39,000. Dogwood Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $42,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Oppenheimer increased their target price on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. BMO Capital Markets restated a "market perform" rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $515.19.

Deere & Company Trading Down 1.4%

Deere & Company stock opened at $512.17 on Friday. 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 company has a market capitalization of $138.71 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.29 and a beta of 1.08. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company's fifty day moving average price is $510.73 and its two-hundred day moving average price is $478.07.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.53 earnings per share. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is 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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.