MainStreet Investment Advisors LLC raised its stake in Deere & Company (NYSE:DE) by 93.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,499 shares of the industrial products company’s stock after acquiring an additional 2,169 shares during the period. MainStreet Investment Advisors LLC’s holdings in Deere & Company were worth $622,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of DE. Norges Bank acquired a new position in Deere & Company in the fourth quarter valued at approximately $624,150,000. Parnassus Investments CA boosted its stake in Deere & Company by 52.3% in the first quarter. Parnassus Investments CA now owns 3,684,560 shares of the industrial products company’s stock valued at $509,059,000 after acquiring an additional 1,264,927 shares during the period. Janus Henderson Group PLC boosted its stake in Deere & Company by 19.3% in the fourth quarter. Janus Henderson Group PLC now owns 3,529,749 shares of the industrial products company’s stock valued at $611,557,000 after acquiring an additional 571,773 shares during the period. Marshall Wace North America L.P. acquired a new position in Deere & Company in the fourth quarter valued at approximately $89,931,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $85,260,000. Institutional investors own 67.55% of the company’s stock.
NYSE DE traded down $2.10 on Friday, reaching $140.71. The company’s stock had a trading volume of 3,426,656 shares, compared to its average volume of 1,765,039. The firm has a market cap of $44.79 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 3.35 and a beta of 0.93. The business has a 50-day moving average price of $137.27 and a 200 day moving average price of $157.92. Deere & Company has a 52 week low of $106.14 and a 52 week high of $181.99. The company has a current ratio of 2.12, a quick ratio of 1.84 and a debt-to-equity ratio of 2.55.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, May 22nd. The industrial products company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.12. The business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.52 earnings per share. Analysts anticipate that Deere & Company will post 6.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.76 per share. The ex-dividend date was Monday, March 30th. This represents a $3.04 annualized dividend and a yield of 2.16%. Deere & Company’s dividend payout ratio is 30.58%.
Several equities research analysts recently commented on DE shares. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Deere & Company in a report on Monday, February 24th. Credit Suisse Group boosted their price target on shares of Deere & Company from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, February 24th. BMO Capital Markets boosted their price target on shares of Deere & Company to $200.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Telsey Advisory Group upgraded shares of Deere & Company from a “market perform” rating to an “outperform” rating in a report on Friday, March 27th. Finally, Goldman Sachs Group decreased their price objective on shares of Deere & Company from $208.00 to $182.00 and set a “buy” rating for the company in a report on Thursday, March 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $168.04.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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