Everence Capital Management Inc. bought a new stake in Deere & Company (NYSE:DE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,683 shares of the industrial products company’s stock, valued at approximately $3,623,000.
Several other institutional investors and hedge funds have also recently modified their holdings of DE. Klaas Financial Asset Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $26,000. Grant Street Asset Management Inc. bought a new stake in shares of Deere & Company during the 4th quarter valued at $27,000. Leelyn Smith LLC raised its stake in shares of Deere & Company by 2,500.0% during the 4th quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Syverson Strege & Co bought a new stake in shares of Deere & Company during the 4th quarter valued at $28,000. Finally, Clearview Wealth Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 66.77% of the company’s stock.
A number of research firms recently issued reports on DE. Argus boosted their price objective on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, March 1st. BMO Capital Markets boosted their price objective on Deere & Company from $300.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, January 25th. Vertical Research assumed coverage on Deere & Company in a research note on Wednesday, January 20th. They set a “buy” rating and a $345.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Deere & Company from $287.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday, March 1st. Finally, Barclays upped their target price on Deere & Company from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 22nd. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Deere & Company currently has a consensus rating of “Buy” and an average price target of $320.20.
Shares of DE traded down $2.90 during midday trading on Thursday, reaching $371.89. The stock had a trading volume of 24,227 shares, compared to its average volume of 1,859,980. The company’s 50-day moving average is $357.42 and its 200 day moving average is $285.84. Deere & Company has a 12-month low of $117.85 and a 12-month high of $392.42. The company has a current ratio of 2.24, a quick ratio of 2.03 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $116.56 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96.
Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $2.17 by $1.70. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. Deere & Company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. Research analysts forecast that Deere & Company will post 13.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, March 30th. This is a boost from Deere & Company’s previous quarterly dividend of $0.76. This represents a $3.60 annualized dividend and a yield of 0.97%. Deere & Company’s dividend payout ratio is currently 41.43%.
Deere & Company Company Profile
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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