National Asset Management Inc. increased its stake in shares of Deere & Company (NYSE:DE) by 5.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,376 shares of the industrial products company’s stock after purchasing an additional 385 shares during the period. National Asset Management Inc.’s holdings in Deere & Company were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Fiduciary Trust Co. increased its holdings in Deere & Company by 0.8% during the 4th quarter. Fiduciary Trust Co. now owns 9,045 shares of the industrial products company’s stock worth $1,567,000 after purchasing an additional 69 shares during the last quarter. Allied Investment Advisors LLC increased its stake in shares of Deere & Company by 0.3% during the 4th quarter. Allied Investment Advisors LLC now owns 26,558 shares of the industrial products company’s stock worth $4,601,000 after purchasing an additional 70 shares during the last quarter. Signet Investment Advisory Group Inc. increased its stake in shares of Deere & Company by 2.1% during the 4th quarter. Signet Investment Advisory Group Inc. now owns 3,460 shares of the industrial products company’s stock worth $599,000 after purchasing an additional 70 shares during the last quarter. Cambridge Trust Co. grew its stake in Deere & Company by 4.3% in the 4th quarter. Cambridge Trust Co. now owns 1,862 shares of the industrial products company’s stock valued at $323,000 after buying an additional 76 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services grew its stake in Deere & Company by 0.4% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 21,436 shares of the industrial products company’s stock valued at $3,714,000 after buying an additional 77 shares in the last quarter. 67.55% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE DE traded down $2.10 during mid-day trading on Friday, reaching $140.71. 3,426,656 shares of the company were exchanged, compared to its average volume of 1,765,039. Deere & Company has a 52 week low of $106.14 and a 52 week high of $181.99. The company has a quick ratio of 1.84, a current ratio of 2.12 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $44.79 billion, a PE ratio of 13.96, a PEG ratio of 3.35 and a beta of 0.93. The company’s 50 day moving average price is $137.27 and its 200 day moving average price is $157.92.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, May 22nd. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.12. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The company had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $7.68 billion. During the same period in the previous year, the firm posted $3.52 EPS. The firm’s revenue was down 19.9% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 6.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Monday, March 30th. Deere & Company’s dividend payout ratio is currently 30.58%.
A number of research analysts recently weighed in on DE shares. Argus reiterated a “buy” rating and issued a $166.65 price objective (down from $185.00) on shares of Deere & Company in a research note on Wednesday, February 26th. Wells Fargo & Co reduced their price objective on shares of Deere & Company from $160.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Telsey Advisory Group upgraded shares of Deere & Company from a “market perform” rating to an “outperform” rating in a research note on Friday, March 27th. Morgan Stanley reduced their price objective on shares of Deere & Company from $205.00 to $171.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Deere & Company in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $168.04.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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