Highland Capital Management LLC grew its position in Deere & Company (NYSE:DE – Get Rating) by 478.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,710 shares of the industrial products company’s stock after buying an additional 6,378 shares during the period. Highland Capital Management LLC’s holdings in Deere & Company were worth $3,203,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 11,613,684 shares of the industrial products company’s stock valued at $3,994,236,000 after purchasing an additional 102,269 shares in the last quarter. Norges Bank acquired a new position in Deere & Company in the fourth quarter valued at about $959,748,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Deere & Company by 27.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,783,591 shares of the industrial products company’s stock valued at $952,127,000 after buying an additional 593,336 shares during the last quarter. Invesco Ltd. increased its stake in Deere & Company by 8.8% during the fourth quarter. Invesco Ltd. now owns 1,654,765 shares of the industrial products company’s stock worth $567,402,000 after purchasing an additional 133,861 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Deere & Company by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,318,857 shares of the industrial products company’s stock worth $452,223,000 after purchasing an additional 24,521 shares during the period. Institutional investors and hedge funds own 67.35% of the company’s stock.
A number of equity analysts recently issued reports on the company. Cowen assumed coverage on Deere & Company in a report on Friday, June 24th. They issued a “hold” rating and a $396.00 price target for the company. Credit Suisse Group decreased their price target on Deere & Company from $477.00 to $472.00 and set an “outperform” rating for the company in a report on Monday, May 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $425.00 price objective on shares of Deere & Company in a research report on Friday, May 20th. Cowen assumed coverage on Deere & Company in a research report on Friday, June 24th. They issued a “hold” rating and a $396.00 price target for the company. Finally, The Goldman Sachs Group dropped their price objective on Deere & Company from $480.00 to $420.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $429.06.
Shares of NYSE:DE opened at $309.16 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.76 and a current ratio of 2.07. The company has a market capitalization of $94.49 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02. The company has a fifty-day moving average of $356.88 and a 200-day moving average of $373.92. Deere & Company has a 52-week low of $ 295.59 and a 52-week high of $ 446.76.
Deere & Company (NYSE: DE – Get Rating) last released its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 EPS for the quarter, topping the consensus estimate of $6.71 by $0.10. The company had revenue of $12.03 billion during the quarter, compared to the consensus estimate of $13.16 billion. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. Deere & Company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $5.68 EPS. On average, equities analysts forecast that Deere & Company will post 23.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Thursday, June 30th will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $4.52 annualized dividend and a yield of 1.46%. This is a positive change from Deere & Company’s previous quarterly dividend of $ 1.05. Deere & Company’s payout ratio is currently 21.91%.
In other Deere & Company news, insider John H. Stone sold 17,145 shares of the company’s stock in a transaction that occurred 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’s stock, valued at $91,118,403.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.
Deere & Company Profile: (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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