Nations Financial Group Inc. IA ADV reduced its position in shares of Deere & Company (NYSE:DE – Free Report) by 21.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,571 shares of the industrial products company’s stock after selling 1,766 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Deere & Company were worth $3,702,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerro Pacific Wealth Advisors LLC increased its position in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 19 shares during the period. Hazlett Burt & Watson Inc. raised its stake in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after buying an additional 19 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Deere & Company by 2.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after buying an additional 19 shares during the period. Verdence Capital Advisors LLC boosted its position in Deere & Company by 2.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 20 shares during the last quarter. Finally, Family Legacy Inc. grew its holdings in Deere & Company by 0.3% during the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock worth $3,675,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.
Analyst Ratings Changes
DE has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Raymond James Financial decreased their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Truist Financial lowered their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. boosted their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $639.58.
Deere & Company Price Performance
Shares of NYSE DE opened at $590.37 on Monday. The firm’s 50-day moving average price is $573.71 and its 200-day moving average price is $553.26. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market capitalization of $159.36 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.64 EPS. Equities research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.
Deere & 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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