Elmwood Wealth Management Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 400 shares of the industrial products company’s stock after selling 150 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Deere & Company were worth $64,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in Deere & Company by 14,550.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after buying an additional 5,179,386 shares in the last quarter. Norges Bank acquired a new stake in Deere & Company during the fourth quarter worth about $582,245,000. JPMorgan Chase & Co. grew its stake in Deere & Company by 67.0% during the first quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock worth $596,683,000 after buying an additional 1,497,433 shares in the last quarter. Janus Henderson Group PLC grew its stake in Deere & Company by 47.6% during the first quarter. Janus Henderson Group PLC now owns 2,749,227 shares of the industrial products company’s stock worth $439,432,000 after buying an additional 886,561 shares in the last quarter. Finally, Standard Life Aberdeen plc grew its stake in Deere & Company by 61.9% during the fourth quarter. Standard Life Aberdeen plc now owns 1,347,884 shares of the industrial products company’s stock worth $197,761,000 after buying an additional 515,228 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.
DE opened at $151.51 on Monday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.66 and a current ratio of 1.94. Deere & Company has a 1-year low of $128.32 and a 1-year high of $169.99. The company has a market capitalization of $48.03 billion, a PE ratio of 16.14, a P/E/G ratio of 1.44 and a beta of 1.02.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the 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 business had revenue of $10.27 billion for the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the prior year, the business earned $3.14 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Deere & Company will post 10.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, June 28th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, June 27th. This represents a $3.04 annualized dividend and a yield of 2.01%. Deere & Company’s dividend payout ratio is presently 32.37%.
A number of equities research analysts have recently weighed in on the stock. Argus raised their price target on shares of Deere & Company to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. JPMorgan Chase & Co. downgraded shares of Deere & Company from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $154.00 to $132.00 in a research note on Tuesday, May 14th. Macquarie assumed coverage on shares of Deere & Company in a research note on Wednesday, May 1st. They issued an “outperform” rating on the stock. UBS Group assumed coverage on shares of Deere & Company in a research note on Tuesday, April 23rd. They issued a “neutral” rating and a $238.00 price target on the stock. Finally, Deutsche Bank reduced their price target on shares of Deere & Company from $159.00 to $148.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Deere & Company presently has an average rating of “Hold” and an average target price of $162.29.
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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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