Davis R M Inc. lowered its stake in Deere & Company (NYSE:DE) by 6.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,452 shares of the industrial products company’s stock after selling 562 shares during the period. Davis R M Inc.’s holdings in Deere & Company were worth $1,351,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Destination Wealth Management boosted its holdings in Deere & Company by 20,500.0% in the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 205 shares during the period. Ellis Investment Partners LLC bought a new stake in Deere & Company in the 1st quarter valued at about $33,000. Oregon Public Employees Retirement Fund boosted its holdings in Deere & Company by 14,550.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 5,179,386 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in Deere & Company by 155.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 145 shares during the period. Finally, Athena Capital Advisors LLC bought a new stake in Deere & Company in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 68.93% of the company’s stock.
NYSE:DE traded down $0.11 on Wednesday, hitting $138.78. The company had a trading volume of 2,475,535 shares, compared to its average volume of 2,073,917. The company has a market cap of $44.24 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.42 and a beta of 0.90. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68. Deere & Company has a 52 week low of $128.32 and a 52 week high of $169.99.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.57 by ($0.05). Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The company had revenue of $10.27 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same period in the previous year, the company earned $3.14 EPS. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 11.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 28th. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.
A number of analysts have recently weighed in on DE shares. UBS Group started coverage on shares of Deere & Company in a report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price target for the company. Macquarie started coverage on shares of Deere & Company in a report on Wednesday, May 1st. They set an “outperform” rating for the company. Bank of America downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating and cut their price target for the stock from $173.00 to $170.00 in a report on Wednesday, February 13th. Zacks Investment Research downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Finally, Credit Suisse Group cut their price target on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. Deere & Company presently has an average rating of “Hold” and an average price target of $166.50.
Deere & Company 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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