M&T Bank Corp decreased its position in shares of Deere & Company (NYSE:DE - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,888 shares of the industrial products company's stock after selling 12,317 shares during the period. M&T Bank Corp owned 0.05% of Deere & Company worth $69,881,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Stratos Wealth Partners LTD. increased its holdings in shares of Deere & Company by 1.2% in the first quarter. Stratos Wealth Partners LTD. now owns 8,556 shares of the industrial products company's stock valued at $4,016,000 after buying an additional 103 shares in the last quarter. Stratos Wealth Advisors LLC increased its holdings in shares of Deere & Company by 4.7% in the first quarter. Stratos Wealth Advisors LLC now owns 1,437 shares of the industrial products company's stock valued at $675,000 after buying an additional 65 shares in the last quarter. Stratos Investment Management LLC bought a new position in shares of Deere & Company in the first quarter valued at $271,000. Liberty One Investment Management LLC increased its holdings in shares of Deere & Company by 5.3% in the first quarter. Liberty One Investment Management LLC now owns 11,365 shares of the industrial products company's stock valued at $5,334,000 after buying an additional 572 shares in the last quarter. Finally, May Hill Capital LLC bought a new position in shares of Deere & Company in the first quarter valued at $202,000. Institutional investors own 68.58% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Morgan Stanley lifted their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Oppenheimer lifted their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, Raymond James Financial lifted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One research 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.com, the stock has a consensus rating of "Hold" and an average target price of $515.19.
Check Out Our Latest Report on DE
Deere & Company Stock Down 1.4%
Shares of Deere & Company stock traded down $7.03 on Friday, hitting $512.17. 1,046,929 shares of the company traded hands, compared to its average volume of 1,346,332. The company has a 50-day moving average price of $510.73 and a 200 day moving average price of $478.07. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a market cap of $138.71 billion, a PE ratio of 24.78, a PEG ratio of 3.29 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during 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%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.53 earnings per share. Sell-side analysts predict 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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.
Deere & 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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