WP Advisors LLC acquired a new stake in Deere & Company (NYSE:DE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 436 shares of the industrial products company’s stock, valued at approximately $70,000.
A number of other institutional investors have also recently made changes to their positions in DE. Tealwood Asset Management Inc. purchased a new position in shares of Deere & Company during the first quarter valued at approximately $205,000. Virtu Financial LLC purchased a new position in shares of Deere & Company during the first quarter valued at approximately $1,946,000. First Manhattan Co. boosted its position in shares of Deere & Company by 4.2% during the first quarter. First Manhattan Co. now owns 1,699 shares of the industrial products company’s stock valued at $271,000 after buying an additional 68 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its position in shares of Deere & Company by 3.1% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 15,348 shares of the industrial products company’s stock valued at $2,453,000 after buying an additional 460 shares during the last quarter. Finally, Shorepoint Capital Partners LLC purchased a new position in shares of Deere & Company during the first quarter valued at approximately $786,000. 68.26% of the stock is owned by hedge funds and other institutional investors.
DE has been the topic of several analyst reports. Credit Suisse Group cut their target price on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 19th. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and cut their target price for the company from $173.00 to $170.00 in a research report on Wednesday, February 13th. DZ Bank cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Argus lifted their target price on Deere & Company to $175.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, OTR Global raised Deere & Company to a “positive” rating in a research report on Friday, January 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $176.73.
Deere & Company stock traded up $0.72 during mid-day trading on Monday, reaching $162.18. 26,378 shares of the company’s stock were exchanged, compared to its average volume of 1,571,793. The firm has a market capitalization of $51.42 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. Deere & Company has a one year low of $128.32 and a one year high of $167.82. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46.
Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). The business had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.83 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. Analysts predict that Deere & Company will post 11.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, March 29th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.87%. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.
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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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