NorthCrest Asset Manangement LLC boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,362 shares of the industrial products company's stock after acquiring an additional 792 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Deere & Company were worth $24,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. RFG Holdings Inc. bought a new position in shares of Deere & Company in the 1st quarter worth approximately $208,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Deere & Company by 571.0% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 67,629 shares of the industrial products company's stock worth $31,742,000 after buying an additional 57,550 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its stake in shares of Deere & Company by 1.3% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 34,361 shares of the industrial products company's stock worth $16,127,000 after buying an additional 432 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Deere & Company by 12.1% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 11,327 shares of the industrial products company's stock worth $5,316,000 after buying an additional 1,224 shares during the last quarter. Finally, Greenwood Capital Associates LLC purchased a new stake in shares of Deere & Company in the 1st quarter worth approximately $3,590,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Trading Down 1.5%
Shares of NYSE:DE traded down $7.82 during trading hours on Friday, hitting $509.04. 824,497 shares of the company's stock traded hands, compared to its average volume of 1,394,113. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The business has a fifty day moving average price of $487.24 and a 200-day moving average price of $468.51. The firm has a market capitalization of $137.86 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Deere & Company's quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.53 earnings per share. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. 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 31.35%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. UBS Group cut their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Citigroup decreased their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Raymond James raised their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $515.19.
Get Our Latest Analysis on DE
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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