Sequoia Financial Advisors LLC trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 31.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,557 shares of the industrial products company's stock after selling 4,894 shares during the period. Sequoia Financial Advisors LLC's holdings in Deere & Company were worth $4,955,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the fourth quarter worth about $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $43,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $48,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Deere & Company Price Performance
Shares of DE traded up $4.93 during midday trading on Friday, hitting $513.46. The company's stock had a trading volume of 1,835,337 shares, compared to its average volume of 1,358,147. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company's fifty day simple moving average is $500.54 and its two-hundred day simple moving average is $472.91. 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 stock has a market capitalization of $139.06 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the company posted $8.53 EPS. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
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 paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. Deere & Company's payout ratio is 31.35%.
Wall Street Analyst Weigh In
DE has been the subject of several recent research reports. Evercore ISI increased their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Truist Financial raised their price objective on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Bank of America increased their target price on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Finally, Robert W. Baird increased their target price on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $515.19.
Check Out Our Latest Research Report on DE
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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