Piedmont Investment Advisors Inc. grew its holdings in Deere & Company (NYSE:DE) by 0.7% during the first quarter, HoldingsChannel.com reports. The fund owned 28,386 shares of the industrial products company’s stock after purchasing an additional 189 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Deere & Company were worth $4,537,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its position in shares of Deere & Company by 0.9% in the third quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock valued at $3,412,282,000 after purchasing an additional 210,597 shares during the last quarter. BKD Wealth Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $203,000. Assenagon Asset Management S.A. grew its position in shares of Deere & Company by 14.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,896 shares of the industrial products company’s stock valued at $880,000 after purchasing an additional 736 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Deere & Company by 8.9% in the fourth quarter. IFM Investors Pty Ltd now owns 17,736 shares of the industrial products company’s stock valued at $2,646,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Landmark Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $221,000. 67.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE DE opened at $136.47 on Friday. Deere & Company has a 1 year low of $128.32 and a 1 year high of $169.99. The company has a market cap of $44.24 billion, a P/E ratio of 14.53, a PEG ratio of 1.72 and a beta of 0.90. The company has a current ratio of 1.94, a quick ratio of 1.66 and a debt-to-equity ratio of 2.37.
Deere & Company (NYSE:DE) last announced its earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.57 by ($0.05). Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The firm had revenue of $10.27 billion for the quarter, compared to analyst estimates of $10.19 billion. During the same quarter last year, the business posted $3.14 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 10.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, March 29th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 2.23%. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.
Several analysts have recently commented on DE shares. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a research report on Thursday, January 24th. Robert W. Baird set a $129.00 price target on shares of Deere & Company and gave the company a “hold” rating in a research report on Monday. Citigroup lowered their price target on shares of Deere & Company from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, February 19th. Barclays reiterated a “buy” rating and issued a $180.00 price target on shares of Deere & Company in a research report on Tuesday, February 19th. Finally, Bank of America lowered shares of Deere & Company from a “buy” rating to a “neutral” rating and lowered their price target for the company from $173.00 to $170.00 in a research report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. Deere & Company presently has an average rating of “Hold” and an average target price of $161.50.
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About Deere & Company
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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