Penserra Capital Management LLC trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 32.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,230 shares of the industrial products company's stock after selling 589 shares during the quarter. Penserra Capital Management LLC's holdings in Deere & Company were worth $577,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new position in Deere & Company in the 4th quarter valued at $1,244,094,000. GAMMA Investing LLC raised its stake in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Finally, FMR LLC raised its stake in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
DE has been the subject of several recent research reports. Oppenheimer increased their price objective on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Morgan Stanley increased 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. Finally, Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Deere & Company has an average rating of "Hold" and a consensus price target of $515.19.
Check Out Our Latest Stock Analysis on DE
Deere & Company Trading Down 1.4%
Shares of NYSE DE traded down $7.03 during mid-day trading on Friday, reaching $512.17. 1,046,929 shares of the company's stock were exchanged, compared to its average volume of 1,347,582. The firm has a market capitalization of $138.71 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.25 and a beta of 1.08. 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 52-week low of $340.20 and a 52-week high of $533.78. The company's 50-day moving average is $510.73 and its 200-day moving average is $478.38.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company's revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $8.53 EPS. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.
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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