Ransom Advisory Ltd Acquires Shares of 2,433 Deere & Company $DE

Key Points

• Ransom Advisory Ltd acquired 2,433 shares of Deere & Company, valued at approximately $1.14 million, signaling institutional interest in the stock.
• Deere & Company's stock saw a 1.3% decline recently, with a consensus price target of $520.87 according to analysts.
• The company announced a quarterly dividend of $1.62 per share, which will be paid on November 10th, reflecting a dividend yield of 1.4%.

Ransom Advisory Ltd acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 2,433 shares of the industrial products company's stock, valued at approximately $1,142,000.

A number of other institutional investors have also added to or reduced their stakes in DE. Vanguard Group Inc. grew its holdings in shares of Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Deere & Company by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company's stock valued at $852,254,000 after purchasing an additional 35,075 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Deere & Company by 2.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock valued at $754,500,000 after purchasing an additional 48,941 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Deere & Company by 61,215.9% in the first 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 in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DE shares. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. DA Davidson cut their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a report on Monday, August 18th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Raymond James Financial raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Citigroup cut their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

Deere & Company Stock Down 1.3%

NYSE DE opened at $475.33 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a fifty day moving average of $500.10 and a two-hundred day moving average of $490.54. The firm has a market capitalization of $128.49 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 3.09 and a beta of 1.00. Deere & Company has a 52 week low of $378.66 and a 52 week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business's revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.29 earnings per share. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is 33.87%.

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.