Mid Atlantic Financial Management Inc. ADV grew its stake in Deere & Company (NYSE:DE) by 32.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,129 shares of the industrial products company’s stock after purchasing an additional 518 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in Deere & Company were worth $797,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Claudia M.P. Batlle CRP R LLC bought a new stake in Deere & Company during the 1st quarter valued at $3,612,000. BancorpSouth Bank grew its stake in Deere & Company by 295.2% during the 4th quarter. BancorpSouth Bank now owns 5,355 shares of the industrial products company’s stock valued at $1,441,000 after purchasing an additional 4,000 shares during the last quarter. Signet Investment Advisory Group Inc. purchased a new stake in Deere & Company during the 4th quarter valued at about $961,000. Brendel Financial Advisors LLC purchased a new stake in Deere & Company during the 1st quarter valued at about $2,970,000. Finally, State of Wisconsin Investment Board grew its stake in Deere & Company by 14.9% during the 4th quarter. State of Wisconsin Investment Board now owns 317,079 shares of the industrial products company’s stock valued at $85,310,000 after purchasing an additional 41,145 shares during the last quarter. 66.56% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on DE. Jefferies Financial Group boosted their price target on Deere & Company from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, May 25th. Wolfe Research began coverage on Deere & Company in a research note on Monday, April 19th. They set an “outperform” rating and a $425.00 price target on the stock. Stifel Nicolaus boosted their price target on Deere & Company from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, May 24th. Evercore ISI boosted their price target on Deere & Company from $389.00 to $455.00 in a research note on Wednesday, May 12th. Finally, Oppenheimer boosted their price objective on Deere & Company from $331.00 to $380.00 and gave the company an “outperform” rating in a report on Monday, February 22nd. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $352.22.
DE stock opened at $341.44 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.29 and a debt-to-equity ratio of 2.21. The firm has a 50 day moving average of $371.30. The stock has a market capitalization of $106.51 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 0.99 and a beta of 1.04. Deere & Company has a 1 year low of $148.12 and a 1 year high of $400.34.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 20th. The industrial products company reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $1.24. The business had revenue of $11 billion during the quarter, compared to analyst estimates of $10.27 billion. Deere & Company had a return on equity of 33.31% and a net margin of 11.51%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.11 earnings per share. Equities research analysts forecast that Deere & Company will post 17.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 9th. Stockholders of record on Wednesday, June 30th will be given a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.05%. Deere & Company’s dividend payout ratio (DPR) is presently 41.43%.
About Deere & Company
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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