Wedbush Securities Inc. trimmed its holdings in Deere & Company (NYSE:DE – Get Rating) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,356 shares of the industrial products company’s stock after selling 237 shares during the quarter. Wedbush Securities Inc.’s holdings in Deere & Company were worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Royal London Asset Management Ltd. lifted its position in Deere & Company by 0.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 100,733 shares of the industrial products company’s stock worth $34,547,000 after purchasing an additional 372 shares during the period. Byrne Asset Management LLC bought a new position in Deere & Company in the first quarter worth $1,199,000. Platte River Wealth Advisors LLC bought a new position in Deere & Company in the first quarter worth $465,000. Mn Services Vermogensbeheer BV lifted its position in Deere & Company by 2.1% in the fourth quarter. Mn Services Vermogensbeheer BV now owns 227,300 shares of the industrial products company’s stock worth $77,939,000 after purchasing an additional 4,600 shares during the period. Finally, Central Bank & Trust Co. raised its stake in Deere & Company by 10.0% during the first quarter. Central Bank & Trust Co. now owns 3,214 shares of the industrial products company’s stock worth $1,335,000 after acquiring an additional 291 shares in the last quarter. 67.35% of the stock is owned by institutional investors.
Several research firms have issued reports on DE. 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 note on Monday, May 23rd. Cowen began coverage on shares of Deere & Company in a research report on Friday, June 24th. They set a “hold” rating and a $396.00 target price on the stock. Morgan Stanley reduced their target price on shares of Deere & Company from $485.00 to $452.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Robert W. Baird reduced their target price on shares of Deere & Company from $487.00 to $442.00 and set an “outperform” rating on the stock in a research report on Sunday, May 22nd. Finally, Barclays reduced their target price on shares of Deere & Company from $415.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $429.06.
In other news, insider John H. Stone sold 17,145 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $4,321.07, for a total transaction of $74,084,745.15. Following the transaction, the insider now owns 21,087 shares in the company, valued at $91,118,403.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.
Shares of DE stock opened at $300.65 on Thursday. The company has a market capitalization of $91.89 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.02 and a beta of 1.02. Deere & Company has a 12-month low of $295.59 and a 12-month high of $446.76. The firm has a fifty-day moving average of $354.15 and a 200-day moving average of $373.41. 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 earnings results on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, beating analysts’ consensus estimates of $6.71 by $0.10. The business 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%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.68 earnings per share. On average, equities analysts expect that Deere & Company will post 23.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Shareholders of record on Thursday, June 30th will be paid a $1.13 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $4.52 dividend on an annualized basis and a yield of 1.50%. This is a boost from Deere & Company’s previous quarterly dividend of $1.05. Deere & Company’s dividend payout ratio (DPR) is currently 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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