Oppenheimer & Co. Inc. Boosts Stock Holdings in Deere & Company (NYSE:DE)

Oppenheimer & Co. Inc. lifted 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 SEC. The firm owned 28,852 shares of the industrial products company's stock after purchasing 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 quarter.

Several other institutional investors also recently bought and sold shares of DE. Assenagon Asset Management S.A. lifted its stake in Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after acquiring an additional 5,053 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its position 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 period. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $847,000. BankPlus Trust Department purchased a new position in Deere & Company during the fourth quarter valued at approximately $1,127,000. Finally, Stenger Family Office LLC purchased a new position in Deere & Company during the fourth quarter valued at approximately $3,144,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Oppenheimer increased their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Citigroup lowered 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. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company Stock Performance

Shares of DE stock traded up $1.60 during trading hours on Thursday, hitting $508.34. The company's stock had a trading volume of 1,198,645 shares, compared to its average volume of 1,378,969. The stock has a market cap of $137.67 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.09. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a 50 day moving average of $499.31 and a 200 day moving average of $472.26. 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 (NYSE:DE - Get Free Report) last posted its quarterly 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 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 firm's revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $8.53 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid 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%.

Deere & Company 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.