OLD National Bancorp IN lessened its position in Deere & Company (NYSE:DE - Free Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,390 shares of the industrial products company's stock after selling 2,149 shares during the quarter. OLD National Bancorp IN's holdings in Deere & Company were worth $10,978,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of DE. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $39,000. Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $42,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $44,000. Institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of DE traded up $4.90 during midday trading on Wednesday, reaching $520.72. 1,036,876 shares of the stock were exchanged, compared to its average volume of 1,396,392. The stock's 50 day simple moving average is $481.59 and its 200 day simple moving average is $467.44. The company has a market cap of $141.03 billion, a P/E ratio of 23.08, a PEG ratio of 2.14 and a beta of 1.09. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company's revenue for the quarter 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, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on DE shares. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Oppenheimer upped their target price on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Evercore ISI lifted their price target on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $515.19.
View Our Latest Research Report on DE
Deere & 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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