Avalon Advisors LLC lessened its stake in shares of John Deere (NYSE:DE) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,705 shares of the industrial products company’s stock after selling 556 shares during the quarter. Avalon Advisors LLC’s holdings in John Deere were worth $9,584,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. High Falls Advisors Inc bought a new position in shares of John Deere during the 4th quarter worth about $219,000. Verition Fund Management LLC bought a new position in shares of John Deere during the 4th quarter worth about $428,000. Macquarie Group Ltd. boosted its position in shares of John Deere by 700.1% during the 4th quarter. Macquarie Group Ltd. now owns 72,535 shares of the industrial products company’s stock worth $12,305,000 after purchasing an additional 63,469 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of John Deere by 6.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 460,739 shares of the industrial products company’s stock worth $71,562,000 after purchasing an additional 29,755 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of John Deere by 27.0% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,392,357 shares of the industrial products company’s stock worth $217,918,000 after purchasing an additional 296,148 shares in the last quarter. 66.14% of the stock is currently owned by institutional investors.
NYSE:DE opened at $139.65 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.91 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $46.43 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.62 and a beta of 0.85. John Deere has a 52 week low of $112.87 and a 52 week high of $175.26.
John Deere (NYSE:DE) last posted its quarterly earnings data on Friday, May 18th. The industrial products company reported $3.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.33 by ($0.19). The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.83 billion. John Deere had a net margin of 5.46% and a return on equity of 27.67%. The company’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter last year, the business posted $2.14 EPS. equities analysts forecast that John Deere will post 9.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Friday, June 29th will be paid a $0.69 dividend. This is a positive change from John Deere’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $2.76 annualized dividend and a yield of 1.98%. John Deere’s dividend payout ratio (DPR) is 35.93%.
DE has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of John Deere in a research report on Friday, March 2nd. They set an “overweight” rating and a $195.00 price objective on the stock. Robert W. Baird reissued a “buy” rating and set a $173.00 price objective on shares of John Deere in a research report on Friday, April 13th. Royal Bank of Canada restated a “buy” rating and issued a $200.00 target price on shares of John Deere in a report on Wednesday, April 18th. Zacks Investment Research lowered shares of John Deere from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, Bank of America upgraded shares of John Deere from a “neutral” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. John Deere has an average rating of “Buy” and an average price target of $174.67.
John Deere 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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