Fifth Third Bancorp increased its stake in shares of Deere & Company (NYSE: DE – Get Rating) by 5.9% during the first quarter, Holdings Channel reports. The institutional investor owned 162,495 shares of the industrial products company stock after acquiring an additional 9,012 shares during the period. Fifth Third Bancorp’s holdings in Deere & Company were worth $ 67,510,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc boosted its holdings in Deere & Company by 120.0% during the fourth quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company stock worth $ 30,000 after buying an additional 48 shares in the last quarter. First National Bank of South Miami purchased a new stake in Deere & Company during the fourth quarter worth about $ 34,000. Amplius Wealth Advisors LLC purchased a new stake in Deere & Company during the fourth quarter worth about $ 34,000. Crewe Advisors LLC boosted its holdings in Deere & Company by 3,233.3% during the fourth quarter. Crewe Advisors LLC now owns 100 shares of the industrial products company stock worth $ 34,000 after buying an additional 97 shares in the last quarter. Finally, Sierra Capital LLC boosted its holdings in Deere & Company by 183.3% during the fourth quarter. Sierra Capital LLC now owns 102 shares of the industrial products company stock worth $ 35,000 after buying an additional 66 shares in the last quarter. 67.35% of the stock is currently owned by hedge funds and other institutional investors.
DE has been the topic of several recent research reports. Bank of America downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating and reduced their price target for the company from $ 475.00 to $ 450.00 in a report on Monday, April 25th. The Goldman Sachs Group reduced their price target on shares of Deere & Company from $ 480.00 to $ 420.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. Cowen initiated coverage on shares of Deere & Company in a report on Friday, June 24th. They issued a “hold” rating and a $ 396.00 price target on the stock. JPMorgan Chase & Co. raised shares of Deere & Company from an “underweight” rating to a “neutral” rating and upped their price target for the company from $ 355.00 to $ 440.00 in a report on Monday, March 28th. Finally, Morgan Stanley reduced their price target on shares of Deere & Company from $ 485.00 to $ 452.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $ 429.06.
In related news, insider John H. Stone sold 17,145 shares of the firm’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $ 4,321.07, for a total transaction of $ 74,084,745.15. Following the completion of the sale, the insider now directly owns 21,087 shares of the company stock, valued at approximately $ 91,118,403.09. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.
Deere & Company stock opened at $ 309.16 on Wednesday. Deere & Company has a 52-week low of $ 295.59 and a 52-week high of $ 446.76. The firm has a fifty day moving average of $ 356.88 and a 200-day moving average of $ 373.92. The firm has a market capitalization of $ 94.49 billion, a P / E ratio of 16.13, a PEG ratio of 1.02 and a beta of 1.02. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.72.
Deere & Company (NYSE: DE – Get Rating) last released its quarterly earnings data on Friday, May 20th. The industrial products company reported $ 6.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 6.71 by $ 0.10. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. The company had revenue of $ 12.03 billion during the quarter, compared to analyst estimates of $ 13.16 billion. During the same quarter in the prior year, the business earned $ 5.68 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 23.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Thursday, June 30th will be issued a dividend of $ 1.13 per share. This represents a $ 4.52 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Deere & Company’s previous quarterly dividend of $ 1.05. The ex-dividend date is Wednesday, June 29th. Deere & Company’s dividend payout ratio (DPR) is presently 21.91%.
About Deere & Company: (Get Rating)
Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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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