Westpac Banking Corp reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,143 shares of the industrial products company's stock after selling 1,761 shares during the quarter. Westpac Banking Corp's holdings in Deere & Company were worth $4,761,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in Deere & Company in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC raised its holdings in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the 4th quarter worth about $39,000. Finally, Citizens National Bank Trust Department acquired a new position in Deere & Company during the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Trading Up 2.1%
NYSE:DE traded up $9.84 during trading hours on Friday, hitting $488.68. 2,559,468 shares of the company were exchanged, compared to its average volume of 1,366,491. The stock has a market capitalization of $132.35 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 3.26 and a beta of 1.06. Deere & Company has a one year low of $371.16 and a one year high of $533.78. The company has a fifty day simple moving average of $511.80 and a 200 day simple moving average of $489.83. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. 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 prior year, the firm posted $6.29 earnings per share. The business's quarterly revenue was down 9.0% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's payout ratio is presently 31.35%.
Wall Street Analyst Weigh In
DE has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Evercore ISI raised their target price on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Bank of America boosted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Oppenheimer raised their price objective on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $521.47.
Get Our Latest Analysis on Deere & Company
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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