TrueWealth Advisors LLC Makes New $388,000 Investment in Deere & Company (NYSE:DE)

TrueWealth Advisors LLC acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 826 shares of the industrial products company's stock, valued at approximately $388,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Deere & Company in the 4th quarter worth $1,244,094,000. GAMMA Investing LLC grew its stake in shares of Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $541,437,000. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 1,095,736 shares in the last quarter. Finally, FMR LLC lifted 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 acquiring an additional 1,039,395 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Bank of America lifted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Robert W. Baird boosted their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Citigroup cut their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company Stock Performance

DE traded up $2.79 during trading on Thursday, reaching $510.57. 1,125,908 shares of the company were exchanged, compared to its average volume of 1,396,025. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The firm has a 50 day moving average of $477.57 and a 200 day moving average of $464.39. The stock has a market cap of $138.58 billion, a P/E ratio of 22.63, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last released 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 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 earnings per share. The company's quarterly revenue was down 17.9% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company's payout ratio is currently 31.35%.

Deere & Company 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.