Vanguard Group Inc. boosted its stake in Deere & Company (NYSE:DE - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 22,063,590 shares of the industrial products company's stock after purchasing an additional 185,671 shares during the period. Vanguard Group Inc. owned about 8.13% of Deere & Company worth $10,355,546,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new stake in Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter worth $39,000. Finally, Citizens National Bank Trust Department acquired a new stake in shares of Deere & Company in the first quarter valued at $45,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on DE shares. Morgan Stanley boosted their target price on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Robert W. Baird boosted their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Barclays lifted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $515.50.
Get Our Latest Stock Analysis on DE
Deere & Company Stock Down 0.5%
Shares of NYSE DE traded down $2.74 during mid-day trading on Thursday, reaching $506.90. The company had a trading volume of 958,544 shares, compared to its average volume of 1,135,084. The firm has a 50 day simple moving average of $512.37 and a two-hundred day simple moving average of $488.75. Deere & Company has a 52-week low of $343.38 and a 52-week high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a market cap of $137.28 billion, a P/E ratio of 24.52, a PEG ratio of 3.23 and a beta of 1.06.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.53 earnings per share. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.
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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