United Services Automobile Association purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,902 shares of the industrial products company's stock, valued at approximately $2,746,000.
Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management lifted its holdings in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Deere & Company during the 4th quarter worth approximately $39,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Oppenheimer lifted their price objective on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Barclays lifted their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Truist Financial dropped their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $520.87.
Check Out Our Latest Stock Report on DE
Deere & Company Price Performance
Shares of Deere & Company stock traded up $4.89 during trading on Thursday, reaching $476.24. 1,368,492 shares of the company's stock were exchanged, compared to its average volume of 1,358,860. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 1-year low of $383.10 and a 1-year high of $533.78. The company has a market cap of $128.74 billion, a P/E ratio of 24.89, a PEG ratio of 3.06 and a beta of 1.00. The firm's 50-day moving average price is $499.13 and its 200 day moving average price is $490.41.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the firm earned $6.29 EPS. Deere & Company's revenue was down 9.0% on a year-over-year basis. As a group, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's payout ratio is currently 33.87%.
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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