NewEdge Advisors LLC lowered its stake 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 & Exchange Commission. The institutional investor owned 17,691 shares of the industrial products company's stock after selling 1,448 shares during the quarter. NewEdge Advisors LLC's holdings in Deere & Company were worth $8,303,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of DE. GAMMA Investing LLC boosted its position in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares during the last quarter. Nuveen LLC purchased a new stake in Deere & Company in the first quarter valued at approximately $571,073,000. Leigh Baldwin & CO. LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $255,686,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Deere & Company in the fourth quarter valued at approximately $149,057,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after buying an additional 286,253 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on DE shares. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Oppenheimer upped their price objective on Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Raymond James Financial upped their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $520.87.
Get Our Latest Research Report on DE
Deere & Company Price Performance
Shares of NYSE:DE traded down $5.11 during midday trading on Friday, reaching $471.35. 1,764,539 shares of the company's stock traded hands, compared to its average volume of 1,291,817. Deere & Company has a 1 year low of $386.42 and a 1 year high of $533.78. The company has a market cap of $127.42 billion, a P/E ratio of 24.64, a PEG ratio of 3.06 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a fifty day simple moving average of $497.38 and a two-hundred day simple moving average of $490.24.
Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm posted $6.29 EPS. The business's revenue was down 9.0% on a year-over-year basis. Equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is 33.87%.
Deere & Company 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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