Drexel Morgan & Co. Has $10.43 Million Stock Holdings in Deere & Company (NYSE:DE)

Drexel Morgan & Co. boosted its position in shares of Deere & Company (NYSE:DE - Free Report) by 62.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,086 shares of the industrial products company's stock after purchasing an additional 10,021 shares during the period. Deere & Company accounts for approximately 2.4% of Drexel Morgan & Co.'s portfolio, making the stock its 12th biggest position. Drexel Morgan & Co.'s holdings in Deere & Company were worth $10,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Briaud Financial Planning Inc bought a new stake in Deere & Company in the third quarter worth $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at about $29,000. Finally, Bfsg LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of DE traded down $19.59 during trading hours on Thursday, hitting $394.43. The stock had a trading volume of 3,621,781 shares, compared to its average volume of 1,476,839. The stock has a market capitalization of $109.79 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The company's fifty day moving average is $398.35 and its two-hundred day moving average is $385.79. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business's revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.65 EPS. On average, analysts anticipate that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, March 27th. Deere & Company's dividend payout ratio (DPR) is presently 17.12%.

Analyst Ratings Changes

DE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $425.00 to $401.00 and set a "hold" rating on the stock in a report on Friday, February 16th. Stifel Nicolaus cut their target price on shares of Deere & Company from $435.00 to $425.00 and set a "buy" rating for the company in a research report on Friday, February 16th. Oppenheimer restated an "outperform" rating and set a $456.00 price target on shares of Deere & Company in a report on Thursday. Morgan Stanley lifted their price objective on Deere & Company from $430.00 to $450.00 in a research note on Wednesday. Finally, Citigroup decreased their target price on Deere & Company from $450.00 to $435.00 and set a "buy" rating for the company in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $436.83.

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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