Obermeyer Wealth Partners Raises Stake in Deere & Company (NYSE:DE)

Obermeyer Wealth Partners raised its stake in Deere & Company (NYSE:DE - Free Report) by 75.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,835 shares of the industrial products company's stock after buying an additional 23,557 shares during the quarter. Deere & Company makes up approximately 1.4% of Obermeyer Wealth Partners' investment portfolio, making the stock its 28th largest position. Obermeyer Wealth Partners' holdings in Deere & Company were worth $25,737,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Fagan Associates Inc. increased its holdings in Deere & Company by 31.7% during the 1st quarter. Fagan Associates Inc. now owns 2,391 shares of the industrial products company's stock worth $1,122,000 after purchasing an additional 575 shares during the period. HighPoint Advisor Group LLC grew its stake in Deere & Company by 6.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 8,298 shares of the industrial products company's stock worth $3,822,000 after buying an additional 473 shares during the last quarter. Gries Financial LLC grew its stake in Deere & Company by 4.5% during the 1st quarter. Gries Financial LLC now owns 1,150 shares of the industrial products company's stock worth $540,000 after buying an additional 50 shares during the last quarter. Crestwood Advisors Group LLC lifted its position in Deere & Company by 7.7% during the 1st quarter. Crestwood Advisors Group LLC now owns 3,118 shares of the industrial products company's stock worth $1,464,000 after acquiring an additional 223 shares during the period. Finally, RD Lewis Holdings Inc. lifted its position in Deere & Company by 10.8% during the 1st quarter. RD Lewis Holdings Inc. now owns 2,429 shares of the industrial products company's stock worth $1,170,000 after acquiring an additional 237 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.7%

NYSE DE opened at $496.24 on Tuesday. The firm has a 50 day simple moving average of $512.85 and a 200-day simple moving average of $481.48. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The firm has a market cap of $134.40 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 3.17 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $8.53 EPS. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analyst Upgrades and Downgrades

DE has been the topic of a number of research analyst reports. DA Davidson reiterated a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. Citigroup cut their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Morgan Stanley upped their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of "Hold" and a consensus target price of $515.50.

Deere & Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.