Quadrant Capital Group LLC raised its holdings in Deere & Company (NYSE:DE) by 18.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,841 shares of the industrial products company’s stock after purchasing an additional 433 shares during the quarter. Quadrant Capital Group LLC’s holdings in Deere & Company were worth $440,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Man Group plc raised its position in shares of Deere & Company by 4.8% in the 3rd quarter. Man Group plc now owns 24,155 shares of the industrial products company’s stock valued at $3,632,000 after purchasing an additional 1,106 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Deere & Company by 2.2% in the 3rd quarter. Macquarie Group Ltd. now owns 37,208 shares of the industrial products company’s stock valued at $5,594,000 after purchasing an additional 808 shares in the last quarter. Kentucky Retirement Systems acquired a new position in shares of Deere & Company in the 3rd quarter valued at approximately $2,887,000. Neuberger Berman Group LLC raised its position in shares of Deere & Company by 11.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 358,825 shares of the industrial products company’s stock valued at $53,942,000 after purchasing an additional 35,597 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Deere & Company by 5.3% in the 3rd quarter. Teachers Advisors LLC now owns 842,016 shares of the industrial products company’s stock valued at $126,580,000 after purchasing an additional 42,372 shares in the last quarter. 68.93% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Argus upped their price target on Deere & Company to $175.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. UBS Group assumed coverage on Deere & Company in a research report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price target on the stock. Macquarie assumed coverage on Deere & Company in a research report on Wednesday, May 1st. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lowered Deere & Company from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $154.00 to $132.00 in a research report on Tuesday, May 14th. Finally, Citigroup reissued a “buy” rating and set a $170.00 price target (down from $180.00) on shares of Deere & Company in a research report on Thursday, May 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $166.50.
Shares of NYSE DE traded down $0.11 during mid-day trading on Wednesday, reaching $138.78. 2,475,535 shares of the company traded hands, compared to its average volume of 2,073,917. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.68 and a current ratio of 1.98. The firm has a market cap of $44.24 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.42 and a beta of 0.90. Deere & Company has a fifty-two week low of $128.32 and a fifty-two 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 Zacks’ consensus estimate of $3.57 by ($0.05). The company had revenue of $10.27 billion for the quarter, compared to analyst estimates of $10.19 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.14 EPS. As a group, equities research analysts forecast that Deere & Company will post 11.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Thursday, March 28th. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.
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About Deere & Company
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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