Stonegate Investment Group LLC Has $42.74 Million Holdings in Deere & Company (NYSE:DE)

Stonegate Investment Group LLC lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,066 shares of the industrial products company's stock after buying an additional 2,430 shares during the quarter. Deere & Company comprises about 1.3% of Stonegate Investment Group LLC's holdings, making the stock its 29th largest position. Stonegate Investment Group LLC's holdings in Deere & Company were worth $42,744,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Tompkins Financial Corp grew its holdings in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company's stock worth $403,000 after purchasing an additional 25 shares during the period. Essex Savings Bank grew its holdings in Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company's stock worth $2,146,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. grew its holdings in Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company's stock worth $751,000 after purchasing an additional 27 shares during the period. Bleakley Financial Group LLC grew its holdings in Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company's stock worth $2,063,000 after purchasing an additional 27 shares during the period. Finally, Simplicity Solutions LLC grew its holdings in Deere & Company by 0.5% in the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company's stock worth $2,063,000 after purchasing an additional 27 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE:DE traded down $9.55 during mid-day trading on Tuesday, hitting $391.41. 973,933 shares of the stock traded hands, compared to its average volume of 1,459,829. The business's 50-day moving average price is $389.34 and its 200 day moving average price is $383.73. The company has a market cap of $108.95 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analysts' expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.55 earnings per share. On average, analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.50%. Deere & Company's dividend payout ratio is presently 17.12%.

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Deere & Company from $445.00 to $425.00 and set an "overweight" rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a "neutral" rating in a research note on Friday, April 12th. Morgan Stanley initiated coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an "overweight" rating and a $430.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $425.00 to $401.00 and set a "hold" rating on the stock in a research note on Friday, February 16th. Finally, Citigroup dropped their price objective on shares of Deere & Company from $450.00 to $435.00 and set a "buy" rating on the stock in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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