Deere & Company (NYSE:DE) Shares Bought by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 64.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,955 shares of the industrial products company's stock after purchasing an additional 1,543 shares during the period. TCV Trust & Wealth Management Inc.'s holdings in Deere & Company were worth $1,856,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in Deere & Company in the 4th quarter valued at approximately $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company in the 4th quarter valued at approximately $39,000. Dogwood Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter valued at approximately $42,000. Wood Tarver Financial Group LLC purchased a new position in Deere & Company in the 4th quarter valued at approximately $43,000. Finally, Marquette Asset Management LLC purchased a new position in Deere & Company in the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 1.0%

NYSE:DE traded up $4.93 during midday trading on Friday, hitting $513.46. 1,835,337 shares of the company were exchanged, compared to its average volume of 1,358,147. The company has a fifty day simple moving average of $500.54 and a 200 day simple moving average of $472.91. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $139.06 billion, a PE 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 announced its quarterly 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. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the business earned $8.53 EPS. Deere & Company's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. Deere & Company's dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Barclays increased their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Truist Financial increased their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. UBS Group dropped their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Evercore ISI increased their target price on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $515.19.

Deere & Company Profile

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.