SG Americas Securities LLC lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,836 shares of the industrial products company's stock after buying an additional 1,735 shares during the quarter. SG Americas Securities LLC's holdings in Deere & Company were worth $2,739,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the fourth quarter worth $39,000. Dogwood Wealth Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $42,000. Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $43,000. Finally, Sierra Ocean LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Analyst Upgrades and Downgrades
DE has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Citigroup lowered 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. Raymond James Financial upped their price target on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Barclays increased their price target on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Oppenheimer lifted their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $515.19.
Check Out Our Latest Stock Analysis on Deere & Company
Deere & Company Price Performance
NYSE:DE traded up $4.33 during mid-day trading on Wednesday, hitting $527.45. 547,817 shares of the stock traded hands, compared to its average volume of 1,388,626. The business's 50-day moving average price is $490.87 and its 200 day moving average price is $469.33. 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 company has a market cap of $142.85 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 3.33 and a beta of 1.09. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the firm earned $8.53 EPS. On average, analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The firm 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 1.23%. Deere & Company's dividend payout ratio is currently 31.35%.
Deere & Company 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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