ProVise Management Group LLC bought a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,921 shares of the industrial products company’s stock, valued at approximately $548,000.
Other large investors have also recently made changes to their positions in the company. Third Point LLC acquired a new stake in Deere & Company during the 2nd quarter valued at $153,780,000. Charles Schwab Investment Advisory Inc. acquired a new stake in Deere & Company during the 2nd quarter valued at $138,797,000. BlackRock Inc. raised its stake in Deere & Company by 5.5% during the 1st quarter. BlackRock Inc. now owns 18,857,199 shares of the industrial products company’s stock valued at $2,928,897,000 after purchasing an additional 978,907 shares during the period. Findlay Park Partners LLP acquired a new stake in Deere & Company during the 1st quarter valued at $113,317,000. Finally, Cornerstone Wealth Management LLC raised its stake in Deere & Company by 15,691.5% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 515,749 shares of the industrial products company’s stock valued at $3,654,000 after purchasing an additional 512,483 shares during the period. 66.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Deere & Company stock opened at $145.10 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 2.59. The stock has a market cap of $46.60 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.69 and a beta of 0.86. Deere & Company has a 1-year low of $114.76 and a 1-year high of $175.26.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.75 by ($0.16). The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.18 billion. Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. Deere & Company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.97 earnings per share. equities analysts anticipate that Deere & Company will post 9.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, September 28th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.76 annualized dividend and a yield of 1.90%. Deere & Company’s dividend payout ratio is 41.32%.
DE has been the topic of several recent analyst reports. ValuEngine downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Credit Suisse Group cut their target price on shares of Deere & Company from $231.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, August 20th. Morgan Stanley set a $185.00 price objective on shares of Deere & Company and gave the company a “buy” rating in a research report on Tuesday, June 5th. Citigroup cut their price objective on shares of Deere & Company from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, June 20th. Finally, Goldman Sachs Group lowered shares of Deere & Company from a “conviction-buy” rating to a “buy” rating in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $177.75.
Deere & Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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