Spectrum Financial Alliance Ltd LLC raised its stake in Deere & Company (NYSE:DE) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,790 shares of the industrial products company’s stock after purchasing an additional 798 shares during the quarter. Deere & Company accounts for 4.9% of Spectrum Financial Alliance Ltd LLC’s investment portfolio, making the stock its 9th biggest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Deere & Company were worth $7,115,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc raised its stake in Deere & Company by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock worth $3,412,282,000 after acquiring an additional 210,597 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Deere & Company in the 4th quarter valued at about $47,000. Advisors Asset Management Inc. raised its position in Deere & Company by 2.8% in the 4th quarter. Advisors Asset Management Inc. now owns 22,607 shares of the industrial products company’s stock valued at $3,372,000 after purchasing an additional 621 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in Deere & Company in the 4th quarter valued at about $64,000. Finally, CIBC Private Wealth Group LLC raised its position in Deere & Company by 5.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 26,253 shares of the industrial products company’s stock valued at $3,916,000 after purchasing an additional 1,261 shares in the last quarter. Institutional investors own 68.10% of the company’s stock.
Several brokerages have recently weighed in on DE. Morgan Stanley cut their target price on Deere & Company from $192.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a research report on Thursday, February 14th. Deutsche Bank cut their target price on Deere & Company from $159.00 to $148.00 and set a “hold” rating on the stock in a research report on Monday, May 20th. Credit Suisse Group cut their target price on Deere & Company from $209.00 to $176.00 and set an “outperform” rating on the stock in a research report on Monday, May 20th. Finally, UBS Group cut their target price on Deere & Company from $177.00 to $158.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Deere & Company has an average rating of “Hold” and a consensus price target of $162.29.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). The firm had revenue of $10.27 billion for the quarter, compared to analysts’ expectations of $10.19 billion. Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.14 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 10.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, June 28th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a yield of 2.02%. Deere & Company’s dividend payout ratio is presently 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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