Woodmont Investment Counsel LLC Takes Position in Deere & Company (NYSE:DE)

Woodmont Investment Counsel LLC acquired a new stake in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 566 shares of the industrial products company's stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Brighton Jones LLC boosted its holdings in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. Wealth Alliance bought a new stake in Deere & Company during the fourth quarter worth approximately $209,000. Bell Bank boosted its holdings in Deere & Company by 10.4% during the fourth quarter. Bell Bank now owns 2,590 shares of the industrial products company's stock worth $1,097,000 after buying an additional 244 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Deere & Company by 8.2% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 342 shares of the industrial products company's stock worth $145,000 after buying an additional 26 shares in the last quarter. Finally, Redmond Asset Management LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $758,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $520.66 on Friday. The company's fifty day moving average is $495.13 and its 200-day moving average is $470.66. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm has a market cap of $141.01 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 3.31 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the business posted $8.53 EPS. Deere & Company's quarterly revenue was down 17.9% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. Deere & Company's payout ratio is presently 31.35%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DE shares. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. BMO Capital Markets restated a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $515.19.

Deere & Company Profile

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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