Trivant Custom Portfolio Group LLC trimmed its stake in Deere & Company (NYSE:DE - Free Report) by 63.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,637 shares of the industrial products company's stock after selling 6,191 shares during the period. Trivant Custom Portfolio Group LLC's holdings in Deere & Company were worth $1,707,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Deere & Company in the 4th quarter worth $1,244,094,000. GAMMA Investing LLC increased its stake in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after buying an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Deere & Company in the 4th quarter worth $541,437,000. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 19.9% in the 4th 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 in the last quarter. Finally, FMR LLC increased its stake in Deere & Company by 22.9% in the 4th 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 in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Trading Down 0.8%
Shares of NYSE:DE traded down $4.32 during trading on Friday, reaching $520.66. The company's stock had a trading volume of 1,387,433 shares, compared to its average volume of 1,390,966. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm's 50 day simple moving average is $493.91 and its two-hundred day simple moving average is $470.14. The stock has a market capitalization of $141.01 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.33 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, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the firm earned $8.53 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company also recently disclosed 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. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on DE. Citigroup cut their price target 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. Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Raymond James Financial increased their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Oppenheimer increased their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Hold" and an average price target of $515.19.
Get Our Latest Stock Report on DE
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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