TD Asset Management Inc grew its position in Deere & Company (NYSE:DE - Free Report) by 199.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 311,002 shares of the industrial products company's stock after acquiring an additional 207,103 shares during the period. TD Asset Management Inc owned about 0.11% of Deere & Company worth $145,969,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in shares of Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after purchasing an additional 798 shares in the last quarter. Stenger Family Office LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $3,144,000. Stratos Investment Management LLC purchased a new stake in shares of Deere & Company during the first quarter worth about $271,000. Finally, Telos Capital Management Inc. increased its stake in shares of Deere & Company by 28.2% during the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock worth $1,592,000 after purchasing an additional 746 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Trading Down 0.3%
NYSE:DE traded down $1.39 on Wednesday, hitting $511.11. The stock had a trading volume of 390,965 shares, compared to its average volume of 1,336,061. 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 cap of $138.42 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 3.24 and a beta of 1.08. The company has a fifty day moving average price of $512.40 and a two-hundred day moving average price of $485.72. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company's revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $8.53 EPS. Equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company's payout ratio is 31.35%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Evercore ISI boosted their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Raymond James Financial upped their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $515.50.
Check Out Our Latest Report on Deere & Company
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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