Amarillo National Bank reduced its position in Deere & Company (NYSE:DE) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,575 shares of the industrial products company’s stock after selling 175 shares during the quarter. Amarillo National Bank’s holdings in Deere & Company were worth $252,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Destination Wealth Management lifted its holdings in shares of Deere & Company by 20,500.0% during the fourth quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 205 shares during the period. Legacy Financial Advisors Inc. raised its holdings in shares of Deere & Company by 155.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock valued at $36,000 after buying an additional 145 shares during the last quarter. Athena Capital Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter valued at about $36,000. Lavaca Capital LLC bought a new position in shares of Deere & Company in the fourth quarter valued at about $41,000. Finally, Berman Capital Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter valued at about $44,000. 68.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Deere & Company stock traded up $0.72 during trading on Monday, hitting $162.18. 23,327 shares of the company 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 17.28, a PEG ratio of 1.68 and a beta of 0.90. Deere & Company has a 1-year low of $128.32 and a 1-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 posted its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.22). The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.83 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. Deere & Company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Research analysts anticipate that Deere & Company will post 11.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.04 annualized dividend and a dividend yield of 1.87%. Deere & Company’s payout ratio is currently 32.37%.
In other news, insider John C. May II sold 11,661 shares of the business’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the transaction, the insider now directly owns 55,743 shares in the company, valued at approximately $8,930,586.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by insiders.
DE has been the subject of a number of research analyst reports. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a report on Thursday, January 24th. Credit Suisse Group reaffirmed a “buy” rating and issued a $211.00 price target on shares of Deere & Company in a report on Tuesday, January 8th. Citigroup lowered their price objective on Deere & Company from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, February 19th. Argus lifted their price objective on Deere & Company from $166.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 9th. Finally, Barclays reiterated a “buy” rating and issued a $180.00 price objective on shares of Deere & Company in a research report on Tuesday, February 19th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Deere & Company presently has an average rating of “Buy” and an average target price of $176.73.
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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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