PFG Advisors trimmed its position in shares of Deere & Company (NYSE:DE - Free Report) by 37.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,259 shares of the industrial products company's stock after selling 746 shares during the quarter. PFG Advisors' holdings in Deere & Company were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after purchasing an additional 798 shares during the period. Stenger Family Office LLC acquired a new stake in Deere & Company in the 4th quarter worth $3,144,000. Stratos Investment Management LLC acquired a new position in shares of Deere & Company during the first quarter valued at about $271,000. Finally, Telos Capital Management Inc. lifted its stake in shares of Deere & Company by 28.2% in the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock valued at $1,592,000 after buying an additional 746 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Trading Up 0.6%
NYSE DE traded up $2.92 on Friday, reaching $517.58. The company had a trading volume of 858,413 shares, compared to its average volume of 1,107,224. The stock has a market cap of $140.18 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.26 and a beta of 1.08. The stock's 50 day moving average is $513.03 and its 200-day moving average is $483.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. Deere & Company has a 52 week low of $340.20 and a 52 week 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. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 earnings per share. The business's quarterly revenue was down 17.9% on a year-over-year basis. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current 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 given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.
Wall Street Analyst Weigh In
DE has been the subject of several recent research reports. Oppenheimer set a $560.00 price target on Deere & Company and gave the company an "outperform" rating in a report on Tuesday, July 15th. UBS Group decreased their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Truist Financial raised their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Bank of America upped their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays raised their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus price target of $515.50.
View Our Latest Report on Deere & Company
Deere & Company Company Profile
(
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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