Russell Investments Group Ltd. trimmed its position in Deere & Company (NYSE:DE) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,321 shares of the industrial products company’s stock after selling 1,977 shares during the quarter. Russell Investments Group Ltd.’s holdings in Deere & Company were worth $9,944,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in DE. Atlas Private Wealth Management bought a new stake in shares of Deere & Company during the fourth quarter worth $29,000. Barnett & Company Inc. grew its stake in shares of Deere & Company by 2,785.7% during the fourth quarter. Barnett & Company Inc. now owns 202 shares of the industrial products company’s stock worth $35,000 after buying an additional 195 shares during the last quarter. Solstein Capital LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $35,000. Danda Trouve Investment Management Inc. bought a new stake in shares of Deere & Company during the fourth quarter worth $35,000. Finally, Wealth Quarterback LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $38,000. 67.55% of the stock is currently owned by institutional investors and hedge funds.
DE has been the topic of a number of research reports. Telsey Advisory Group raised shares of Deere & Company from a “market perform” rating to an “outperform” rating in a research note on Friday, March 27th. Wells Fargo & Co decreased their target price on shares of Deere & Company from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 target price on shares of Deere & Company in a research note on Monday, February 24th. Bank of America raised shares of Deere & Company from an “underperform” rating to a “buy” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. raised shares of Deere & Company from an “underweight” rating to a “neutral” rating and set a $140.00 price objective on the stock in a research note on Friday, March 27th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $168.04.
Deere & Company (NYSE:DE) last released its earnings results on Friday, February 21st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.35. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.17 billion. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. Deere & Company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. Research analysts expect that Deere & Company will post 6.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were issued a $0.76 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $3.04 annualized dividend and a yield of 2.13%. Deere & Company’s payout ratio is 30.58%.
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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