SteelPeak Wealth LLC lowered its stake in Deere & Company (NYSE:DE - Free Report) by 23.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,489 shares of the industrial products company's stock after selling 2,671 shares during the period. SteelPeak Wealth LLC's holdings in Deere & Company were worth $3,998,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Norges Bank bought a new position in shares of Deere & Company in the fourth quarter worth about $1,244,094,000. GAMMA Investing LLC increased its stake 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 worth $822,781,000 after purchasing an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter worth about $541,437,000. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Finally, FMR LLC increased its stake in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Price Performance
Shares of DE traded down $7.03 on Friday, hitting $512.17. The company's stock had a trading volume of 1,046,929 shares, compared to its average volume of 1,346,332. The company has a market capitalization of $138.71 billion, a PE ratio of 24.78, a PEG ratio of 3.29 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a 50 day moving average price of $510.73 and a 200 day moving average price of $478.07.
Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company's revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.53 EPS. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share 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. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.
Wall Street Analyst Weigh In
DE has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Raymond James Financial boosted their price target on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wall Street Zen lowered Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Finally, Morgan Stanley boosted their price target on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $515.19.
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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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