Quantinno Capital Management LP boosted its position in shares of Deere & Company (NYSE:DE – Free Report) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,849 shares of the industrial products company’s stock after buying an additional 12,910 shares during the quarter. Quantinno Capital Management LP’s holdings in Deere & Company were worth $82,720,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Gateway Wealth Partners LLC boosted its position in shares of Deere & Company by 139.7% during the 1st quarter. Gateway Wealth Partners LLC now owns 5,048 shares of the industrial products company’s stock valued at $2,844,000 after purchasing an additional 2,942 shares in the last quarter. Cypress Capital Group raised its holdings in shares of Deere & Company by 24.2% in the 1st quarter. Cypress Capital Group now owns 1,906 shares of the industrial products company’s stock worth $1,074,000 after purchasing an additional 371 shares in the last quarter. OMERS ADMINISTRATION Corp raised its holdings in shares of Deere & Company by 48.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 18,712 shares of the industrial products company’s stock worth $10,540,000 after purchasing an additional 6,135 shares in the last quarter. 44 Wealth Management LLC acquired a new stake in Deere & Company during the first quarter valued at approximately $295,000. Finally, Van Diest Capital LLC acquired a new stake in Deere & Company during the first quarter valued at approximately $201,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on DE shares. Oppenheimer restated an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Bank of America cut their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Robert W. Baird decreased their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a research report on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $642.98.
Deere & Company Stock Performance
Shares of DE opened at $640.78 on Wednesday. The company has a 50-day moving average of $587.92 and a two-hundred day moving average of $579.01. The stock has a market cap of $172.97 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.64 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a one year low of $433.00 and a one year high of $674.19.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the business earned $6.64 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 18.28 earnings per share for the current year.
Deere & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.
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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