MainStreet Investment Advisors LLC Has $622,000 Stake in Deere & Company (NYSE:DE)

MainStreet Investment Advisors LLC increased its stake in shares of Deere & Company (NYSE:DE) by 93.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,499 shares of the industrial products company’s stock after acquiring an additional 2,169 shares during the period. MainStreet Investment Advisors LLC’s holdings in Deere & Company were worth $622,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Argent Trust Co raised its holdings in shares of Deere & Company by 5.0% during the first quarter. Argent Trust Co now owns 2,542 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 121 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Deere & Company by 3.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 61,952 shares of the industrial products company’s stock worth $8,559,000 after acquiring an additional 1,873 shares during the period. Tredje AP fonden raised its holdings in shares of Deere & Company by 19.7% during the first quarter. Tredje AP fonden now owns 21,815 shares of the industrial products company’s stock worth $2,535,000 after acquiring an additional 3,593 shares during the period. National Asset Management Inc. raised its holdings in shares of Deere & Company by 5.5% during the first quarter. National Asset Management Inc. now owns 7,376 shares of the industrial products company’s stock worth $1,019,000 after acquiring an additional 385 shares during the period. Finally, Toroso Investments LLC raised its holdings in shares of Deere & Company by 503.7% during the first quarter. Toroso Investments LLC now owns 13,927 shares of the industrial products company’s stock worth $1,924,000 after acquiring an additional 11,620 shares during the period. Institutional investors and hedge funds own 67.55% of the company’s stock.

Shares of NYSE DE traded down $2.10 during mid-day trading on Friday, reaching $140.71. 3,426,656 shares of the company were exchanged, compared to its average volume of 1,765,039. The company’s 50-day simple moving average is $137.27 and its 200-day simple moving average is $157.92. The company has a quick ratio of 1.84, a current ratio of 2.12 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $44.79 billion, a P/E ratio of 13.75, a P/E/G ratio of 3.35 and a beta of 0.93. Deere & Company has a twelve month low of $106.14 and a twelve month high of $181.99.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, May 22nd. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.12. The company had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $7.68 billion. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. Deere & Company’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.52 EPS. As a group, equities research analysts expect that Deere & Company will post 6.09 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Monday, March 30th. Deere & Company’s dividend payout ratio is presently 30.58%.

DE has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of Deere & Company from $205.00 to $171.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Deutsche Bank raised their target price on shares of Deere & Company from $169.00 to $175.00 and gave the company a “hold” rating in a research report on Monday, February 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Deere & Company in a research report on Monday, February 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $150.00 target price on shares of Deere & Company in a research report on Thursday. Finally, Citigroup decreased their target price on shares of Deere & Company from $155.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $168.04.

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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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