Xponance Inc. Raises Position in Deere & Company (NYSE:DE)

Xponance Inc. grew its holdings in Deere & Company (NYSE:DE - Free Report) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,980 shares of the industrial products company's stock after purchasing an additional 2,691 shares during the period. Xponance Inc.'s holdings in Deere & Company were worth $19,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sunbelt Securities Inc. grew its holdings in shares of Deere & Company by 2.4% in the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after acquiring an additional 22 shares during the period. First Bancorp Inc ME grew its holdings in shares of Deere & Company by 4.7% in the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after acquiring an additional 23 shares during the period. World Equity Group Inc. grew its holdings in shares of Deere & Company by 4.5% in the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock worth $244,000 after acquiring an additional 24 shares during the period. Coppell Advisory Solutions LLC grew its holdings in shares of Deere & Company by 2.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock worth $432,000 after acquiring an additional 25 shares during the period. Finally, Glen Eagle Advisors LLC grew its holdings in shares of Deere & Company by 0.9% in the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock worth $1,244,000 after acquiring an additional 25 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE traded down $7.03 during mid-day trading on Friday, reaching $512.17. The stock had a trading volume of 1,046,929 shares, compared to its average volume of 1,346,332. 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 company has a market cap of $138.71 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The business's 50 day moving average price is $510.12 and its 200 day moving average price is $477.52.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 earnings per share. Research 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 given a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company's dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

DE has been the subject of several recent research reports. Barclays boosted their price target on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. DA Davidson reissued a "buy" rating and set a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. 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 report on Friday, May 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 report on Friday, May 16th. Finally, Truist Financial boosted their price target on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company 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.