QRG Capital Management Inc. raised its stake in shares of Deere & Company (NYSE:DE - Free Report) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,893 shares of the industrial products company's stock after buying an additional 4,354 shares during the quarter. QRG Capital Management Inc.'s holdings in Deere & Company were worth $17,316,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its position in shares of 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 valued at $6,395,000 after purchasing an additional 5,053 shares during the period. Spectrum Financial Alliance Ltd LLC increased its stake in shares of Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock valued at $21,021,000 after acquiring an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Deere & Company during the 4th quarter worth about $847,000. BankPlus Trust Department acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $1,127,000. Finally, Stenger Family Office LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $3,144,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on DE. Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Robert W. Baird increased their price target on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Argus set a $510.00 target price on Deere & Company in a research note on Friday, March 7th. 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 issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $515.19.
View Our Latest Stock Report on DE
Deere & Company Stock Down 0.3%
Shares of Deere & Company stock traded down $1.36 during trading on Tuesday, reaching $523.08. The company had a trading volume of 862,514 shares, compared to its average volume of 1,391,173. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The firm's fifty day moving average is $489.49 and its 200-day moving average is $468.95. The company has a market cap of $141.66 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the company earned $8.53 earnings per share. Deere & Company's quarterly revenue was down 17.9% on a year-over-year basis. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The company 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 $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 1.24%. Deere & Company's dividend payout ratio (DPR) is 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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