Mutual Advisors LLC Buys 549 Shares of Deere & Company (NYSE:DE)

Mutual Advisors LLC boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,179 shares of the industrial products company's stock after purchasing an additional 549 shares during the quarter. Mutual Advisors LLC's holdings in Deere & Company were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DE. Orion Capital Management LLC purchased a new position in Deere & Company during the 4th quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the 4th quarter worth $39,000. Dogwood Wealth Management LLC purchased a new position in Deere & Company during the 4th quarter worth $42,000. Wood Tarver Financial Group LLC purchased a new position in Deere & Company during the 4th quarter worth $43,000. Finally, Citizens National Bank Trust Department purchased a new position in Deere & Company during the 1st quarter worth $45,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on DE shares. Evercore ISI lifted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Robert W. Baird lifted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. 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 report on Wednesday, April 16th. Finally, Oppenheimer boosted their price target on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $515.19.

Deere & Company Stock Performance

Deere & Company stock traded down $2.82 during midday trading on Friday, reaching $517.50. The stock had a trading volume of 470,313 shares, compared to its average volume of 1,356,782. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm's 50-day moving average price is $506.47 and its 200 day moving average price is $475.58. The firm has a market capitalization of $140.15 billion, a PE ratio of 25.04, a P/E/G ratio of 3.31 and a beta of 1.08. 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 (NYSE:DE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the previous year, the business posted $8.53 EPS. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company 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 $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

About Deere & Company

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.