Canada Post Corp Registered Pension Plan cut its position in shares of Deere & Company (NYSE:DE – Free Report) by 41.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,585 shares of the industrial products company’s stock after selling 5,356 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Deere & Company were worth $3,531,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Strategic Advocates LLC purchased a new stake in Deere & Company during the third quarter valued at about $25,000. Key Capital Management INC purchased a new stake in Deere & Company during the fourth quarter valued at about $27,000. Activest Wealth Management lifted its stake in Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in Deere & Company during the third quarter valued at about $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
DE has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $765.00 price objective on shares of Deere & Company in a research note on Monday, February 23rd. Bank of America upped their price objective on shares of Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Wolfe Research upped their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Finally, Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $655.45.
Deere & Company Trading Up 0.1%
NYSE:DE opened at $562.12 on Monday. The stock’s 50 day moving average price is $580.96 and its 200 day moving average price is $537.44. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a market capitalization of $151.83 billion, a P/E ratio of 31.69, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 18.01 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were issued a $1.62 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. Deere & Company’s dividend payout ratio is currently 36.53%.
Deere & Company Company Profile
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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