Horizon Investments LLC decreased its position in shares of Deere & Company (NYSE:DE – Get Rating) by 31.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,155 shares of the industrial products company’s stock after selling 2,837 shares during the period. Horizon Investments LLC’s holdings in Deere & Company were worth $2,557,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. B. Riley Wealth Management Inc. boosted its position in shares of Deere & Company by 22.1% during the 1st quarter. B. Riley Wealth Management Inc. now owns 2,213 shares of the industrial products company’s stock worth $919,000 after acquiring an additional 400 shares in the last quarter. Whittier Trust Co. boosted its position in Deere & Company by 1.1% in the first quarter. Whittier Trust Co. now owns 24,755 shares of the industrial products company’s stock valued at $10,285,000 after buying an additional 270 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in Deere & Company by 40.5% in the first quarter. Douglas Lane & Associates LLC now owns 832 shares of the industrial products company’s stock valued at $345,000 after buying an additional 240 shares in the last quarter. Lake Street Financial LLC boosted its position in Deere & Company by 360.3% in the first quarter. Lake Street Financial LLC now owns 5,505 shares of the industrial products company’s stock valued at $2,287,000 after buying an additional 4,309 shares in the last quarter. Finally, Cooper Financial Group acquired a new stake in Deere & Company in the first quarter valued at approximately $229,000. Institutional investors and hedge funds own 75.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on DE shares. Credit Suisse Group raised their target price on shares of Deere & Company from $393.00 to $447.00 and gave the company an “outperform” rating in a research report on Monday, August 22nd. Citigroup raised their price target on shares of Deere & Company from $340.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Morgan Stanley raised their price target on shares of Deere & Company from $416.00 to $424.00 and gave the company an “overweight” rating in a research note on Sunday, August 21st. Cowen dropped their price target on shares of Deere & Company from $396.00 to $342.00 in a research note on Thursday, July 7th. Finally, Barclays dropped their price target on shares of Deere & Company from $415.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $407.68.
Deere & Company Stock Up 1.0 %
Shares of NYSE DE opened at $372.25 on Friday. The stock has a market capitalization of $112.35 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.27 and a beta of 1.06. The company has a 50-day moving average price of $340.74 and a 200-day moving average price of $363.23. Deere & Company has a 1 year low of $283.81 and a 1 year high of $446.76. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.97 and a quick ratio of 1.68.
Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, August 19th. The industrial products company reported $6.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.45). The business had revenue of $13 billion for the quarter, compared to analyst estimates of $12.84 billion. Deere & Company had a net margin of 12.75% and a return on equity of 33.26%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.32 earnings per share. On average, equities research analysts forecast that Deere & Company will post 22.94 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Friday, September 30th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, September 29th. Deere & Company’s dividend payout ratio (DPR) is presently 22.59%.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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