Oppenheimer & Co. Inc. Has $13.54 Million Stake in Deere & Company (NYSE:DE)

Oppenheimer & Co. Inc. grew its position in Deere & Company (NYSE:DE - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,852 shares of the industrial products company's stock after acquiring an additional 1,235 shares during the period. Oppenheimer & Co. Inc.'s holdings in Deere & Company were worth $13,542,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DE. Brighton Jones LLC grew its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Wealth Alliance acquired a new position in Deere & Company during the 4th quarter worth about $209,000. Redmond Asset Management LLC bought a new stake in Deere & Company during the 4th quarter worth about $758,000. Fisher Funds Management LTD acquired a new stake in Deere & Company in the 4th quarter valued at about $15,985,000. Finally, Howard Capital Management Inc. increased its position in Deere & Company by 4.5% in the 4th quarter. Howard Capital Management Inc. now owns 1,705 shares of the industrial products company's stock valued at $722,000 after acquiring an additional 74 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock opened at $520.66 on Monday. The firm has a market capitalization of $141.01 billion, a P/E ratio of 25.19, a PEG ratio of 3.31 and a beta of 1.09. The business has a 50-day moving average of $495.13 and a 200-day moving average of $470.82. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

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, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.53 earnings per share. On average, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is presently 31.35%.

Analyst Upgrades and Downgrades

DE has been the topic of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Bank of America upped their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Truist Financial lifted their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Finally, Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $515.19.

About Deere & Company

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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