Nixon Peabody Trust Co. lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 24.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 25,844 shares of the industrial products company's stock after selling 8,257 shares during the period. Nixon Peabody Trust Co.'s holdings in Deere & Company were worth $12,130,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the company. Compass Financial Services Inc acquired a new position in Deere & Company during the fourth quarter worth about $254,000. Banque Pictet & Cie SA boosted its position in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock valued at $33,165,000 after purchasing an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC grew its stake in shares of Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock worth $21,021,000 after purchasing an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $847,000. Finally, BankPlus Trust Department acquired a new stake in Deere & Company during the fourth quarter valued at approximately $1,127,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Stock Up 0.5%
Shares of DE traded up $2.79 during trading hours on Thursday, hitting $510.57. 1,125,908 shares of the company were exchanged, compared to its average volume of 1,396,025. The firm's 50 day moving average is $477.57 and its 200-day moving average is $464.39. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a market cap of $138.58 billion, a PE ratio of 22.63, a PEG 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 (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 return on equity of 27.31% and a net margin of 12.94%. The company's revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.53 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company's payout ratio is presently 31.35%.
Analysts Set New Price Targets
A number of analysts have commented on DE shares. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Bank of America raised their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Oppenheimer boosted their target price on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $515.19.
Read Our Latest Analysis on DE
Deere & Company Profile
(
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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