NBC Securities Inc. raised its stake in shares of Deere & Company (NYSE:DE - Free Report) by 104,680.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,717 shares of the industrial products company's stock after purchasing an additional 15,702 shares during the period. Deere & Company accounts for approximately 0.6% of NBC Securities Inc.'s holdings, making the stock its 17th biggest position. NBC Securities Inc.'s holdings in Deere & Company were worth $7,377,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $1,244,094,000. GAMMA Investing LLC raised its position in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Deere & Company in the 4th quarter worth about $541,437,000. Price T Rowe Associates Inc. MD raised its position in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Finally, FMR LLC raised its position in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Institutional investors own 68.58% of the company's stock.
Analysts Set New Price Targets
DE has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Robert W. Baird increased their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Morgan Stanley raised their target price 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. Finally, Evercore ISI raised their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $515.19.
Check Out Our Latest Research Report on DE
Deere & Company Stock Up 1.2%
Shares of NYSE DE traded up $5.97 during midday trading on Thursday, reaching $513.75. 426,953 shares of the company's stock traded hands, compared to its average volume of 1,393,361. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The stock's 50 day simple moving average is $477.57 and its 200-day simple moving average is $464.39. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a market cap of $139.44 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.14 and a beta of 1.08.
Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company's revenue was down 17.9% compared to the same quarter last year. During the same period last year, the firm earned $8.53 earnings per share. On average, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company 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 of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. Deere & Company's dividend payout ratio (DPR) 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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