Narwhal Capital Management increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 171.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,691 shares of the industrial products company's stock after buying an additional 1,701 shares during the period. Narwhal Capital Management's holdings in Deere & Company were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the 4th quarter worth $39,000. Dogwood Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth $42,000. Wood Tarver Financial Group LLC acquired a new position in Deere & Company in the fourth quarter valued at $43,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Deere & Company in the fourth quarter valued at $48,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. Citigroup reduced their price target 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. Morgan Stanley increased 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. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Bank of America increased their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $515.19.
Read Our Latest Stock Report on Deere & Company
Deere & Company Stock Down 1.4%
DE traded down $7.23 during trading on Wednesday, hitting $506.87. The company had a trading volume of 1,099,496 shares, compared to its average volume of 1,384,639. The company has a market cap of $137.27 billion, a PE ratio of 24.52, a P/E/G ratio of 3.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The business has a 50-day moving average of $497.10 and a 200-day moving average of $471.61.
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 business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the firm earned $8.53 earnings per share. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.28%. Deere & Company's payout ratio is currently 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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