Retirement Planning Group LLC NY acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 750 shares of the industrial products company's stock, valued at approximately $318,000.
Other large investors have also made changes to their positions in the company. Raleigh Capital Management Inc. boosted its holdings in Deere & Company by 182.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 209 shares of the industrial products company's stock worth $89,000 after buying an additional 135 shares in the last quarter. Avior Wealth Management LLC raised its position in Deere & Company by 2.0% during the fourth quarter. Avior Wealth Management LLC now owns 4,770 shares of the industrial products company's stock worth $2,021,000 after acquiring an additional 93 shares during the period. Secure Asset Management LLC acquired a new position in Deere & Company during the fourth quarter worth $358,000. Montecito Bank & Trust raised its position in Deere & Company by 16.4% during the fourth quarter. Montecito Bank & Trust now owns 2,925 shares of the industrial products company's stock worth $1,239,000 after acquiring an additional 412 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.
Deere & Company Stock Down 0.6%
DE stock traded down $3.10 during midday trading on Thursday, reaching $504.89. 297,832 shares of the company were exchanged, compared to its average volume of 1,401,541. 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 1-year low of $340.20 and a 1-year high of $533.78. The stock's 50-day simple moving average is $474.56 and its 200 day simple moving average is $460.54. The company has a market cap of $137.03 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter last year, the company earned $8.53 earnings per share. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The firm also recently announced 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 1.28%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Oppenheimer increased their target price 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. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Bank of America upped their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and an average price target of $516.75.
Read Our Latest Research Report on Deere & Company
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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