Topsail Wealth Management LLC acquired a new stake in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 569 shares of the industrial products company's stock, valued at approximately $267,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $1,244,094,000. GAMMA Investing LLC increased its position in shares of Deere & Company by 61,215.9% during the 1st 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 last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $541,437,000. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 19.9% during 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 buying an additional 1,095,736 shares during the period. Finally, FMR LLC boosted its position in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Stock Down 1.4%
DE traded down $7.03 during trading on Friday, reaching $512.17. 1,046,929 shares of the stock traded hands, compared to its average volume of 1,348,003. The stock has a market cap of $138.71 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08. The stock's 50-day simple moving average is $510.12 and its two-hundred day simple moving average is $477.52. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. 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 (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the firm earned $8.53 earnings per share. The business's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is presently 31.35%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on DE shares. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Raymond James Financial increased their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Morgan Stanley upped their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus price target of $515.19.
Read Our Latest Stock Report on Deere & Company
Deere & Company Profile
(
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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