Insigneo Advisory Services LLC Grows Stock Position in Deere & Company (NYSE:DE)

Insigneo Advisory Services LLC increased its holdings in Deere & Company (NYSE:DE) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,205 shares of the industrial products company’s stock after buying an additional 179 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Deere & Company were worth $1,035,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DE. Norges Bank purchased a new position in shares of Deere & Company during the 4th quarter valued at about $1,244,094,000. GAMMA Investing LLC increased its holdings in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after acquiring an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Finally, FMR LLC lifted its holdings in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 0.3%

Shares of NYSE DE opened at $523.08 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The firm’s 50-day moving average price is $490.87 and its 200-day moving average price is $469.33. The stock has a market capitalization of $141.67 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.33 and a beta of 1.09.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $8.53 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company’s payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Raymond James Financial increased their price target on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Oppenheimer boosted their price objective on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.