Security National Bank increased its stake in Deere & Company (NYSE:DE - Free Report) by 30.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,990 shares of the industrial products company's stock after purchasing an additional 1,854 shares during the quarter. Security National Bank's holdings in Deere & Company were worth $3,750,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Cvfg LLC purchased a new stake in Deere & Company during the 1st quarter worth about $203,000. Tyche Wealth Partners LLC increased its position in shares of Deere & Company by 15.7% during the first quarter. Tyche Wealth Partners LLC now owns 642 shares of the industrial products company's stock valued at $301,000 after buying an additional 87 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of Deere & Company during the first quarter valued at about $192,000. HBK Sorce Advisory LLC lifted its holdings in shares of Deere & Company by 1.9% in the first quarter. HBK Sorce Advisory LLC now owns 4,504 shares of the industrial products company's stock worth $2,114,000 after buying an additional 85 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Deere & Company by 109.9% in the first quarter. Golden State Wealth Management LLC now owns 1,224 shares of the industrial products company's stock valued at $576,000 after acquiring an additional 641 shares during the period. Institutional investors own 68.58% of the company's stock.
Wall Street Analysts Forecast Growth
DE has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. UBS Group reduced their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Citigroup dropped their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Bank of America boosted their target price on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Deere & Company currently has an average rating of "Hold" and a consensus target price of $515.19.
Read Our Latest Research Report on Deere & Company
Deere & Company Trading Up 0.3%
Deere & Company stock traded up $1.60 during midday trading on Thursday, reaching $508.34. The stock had a trading volume of 1,198,645 shares, compared to its average volume of 1,383,203. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a market cap of $137.67 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a fifty day moving average of $498.19 and a 200 day moving average of $471.85.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.53 earnings per share. On average, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid 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 yield of 1.27%. Deere & Company's dividend payout ratio is currently 31.35%.
Deere & Company Profile
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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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