Wealth Enhancement Advisory Services LLC lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,020 shares of the industrial products company's stock after buying an additional 826 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Deere & Company were worth $42,250,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 19.9% during 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 buying an additional 1,095,736 shares in the last quarter. Capital World Investors raised its stake in Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after purchasing an additional 157,224 shares in the last quarter. FMR LLC raised its stake in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC raised its stake in Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after purchasing an additional 97,203 shares in the last quarter. Finally, Norges Bank acquired a new position in Deere & Company in the fourth quarter valued at about $1,244,094,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on DE shares. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Bank of America boosted their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Morgan Stanley boosted their price target on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Robert W. Baird boosted their price target on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $515.19.
Read Our Latest Research Report on DE
Deere & Company Trading Down 0.8%
Shares of NYSE:DE traded down $4.32 during midday trading on Friday, hitting $520.66. 1,387,433 shares of the stock were exchanged, compared to its average volume of 1,386,710. The stock has a market capitalization of $141.01 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.31 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The business's 50-day moving average price is $495.13 and its 200 day moving average price is $470.66. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the business posted $8.53 earnings per share. 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. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. 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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