Mediolanum International Funds Ltd reduced its position in shares of Deere & Company (NYSE:DE – Free Report) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,016 shares of the industrial products company’s stock after selling 1,432 shares during the period. Mediolanum International Funds Ltd’s holdings in Deere & Company were worth $5,564,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of DE. Key Capital Management INC acquired a new position in Deere & Company in the 4th quarter valued at about $27,000. Timmons Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter worth about $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Portus Wealth Advisors LLC acquired a new stake in shares of Deere & Company during the first quarter worth about $32,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Deere & Company in the third quarter valued at approximately $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Deere & Company Trading Down 1.9%
NYSE:DE opened at $586.13 on Tuesday. The stock has a 50-day simple moving average of $582.50 and a 200-day simple moving average of $572.84. The stock has a market cap of $158.22 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.21 and a beta of 0.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.
Analyst Ratings Changes
A number of research firms have issued reports on DE. Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Robert W. Baird cut their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. increased their price objective on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $642.98.
About Deere & Company
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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