Vancity Investment Management Ltd bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,614 shares of the industrial products company's stock, valued at approximately $758,000.
Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Focus Partners Wealth increased its position in Deere & Company by 4.2% in the fourth quarter. Focus Partners Wealth now owns 30,240 shares of the industrial products company's stock worth $12,813,000 after buying an additional 1,206 shares in the last quarter. Graham Capital Management L.P. raised its stake in shares of Deere & Company by 69.8% in the fourth quarter. Graham Capital Management L.P. now owns 2,200 shares of the industrial products company's stock worth $932,000 after buying an additional 904 shares during the period. Gotham Asset Management LLC lifted its position in shares of Deere & Company by 9.6% during the 4th quarter. Gotham Asset Management LLC now owns 7,526 shares of the industrial products company's stock valued at $3,189,000 after buying an additional 661 shares in the last quarter. Finally, Guardian Wealth Advisors LLC NC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $324,000. 68.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Raymond James Financial lifted their target price 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. Finally, Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $520.87.
Check Out Our Latest Research Report on DE
Deere & Company Price Performance
Shares of NYSE:DE traded up $4.89 during midday trading on Thursday, reaching $476.24. 1,368,492 shares of the company were exchanged, compared to its average volume of 1,478,417. The stock has a market cap of $128.74 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00. The business's fifty day moving average is $499.13 and its two-hundred day moving average is $490.41. Deere & Company has a one year low of $383.10 and a one year high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the company earned $6.29 EPS. The business's quarterly revenue was down 9.0% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. 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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