Canandaigua National Corp reduced its stake in Deere & Company (NYSE:DE) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,169 shares of the industrial products company’s stock after selling 158 shares during the period. Canandaigua National Corp’s holdings in Deere & Company were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of DE. Norges Bank acquired a new position in shares of Deere & Company during the fourth quarter worth $1,006,240,000. FMR LLC boosted its position in shares of Deere & Company by 37.8% during the 4th quarter. FMR LLC now owns 4,701,751 shares of the industrial products company’s stock worth $1,265,007,000 after purchasing an additional 1,289,219 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Deere & Company by 62.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,204,272 shares of the industrial products company’s stock worth $324,010,000 after purchasing an additional 463,298 shares in the last quarter. AMF Pensionsforsakring AB raised its holdings in shares of Deere & Company by 238.9% in the 4th quarter. AMF Pensionsforsakring AB now owns 606,752 shares of the industrial products company’s stock worth $163,314,000 after acquiring an additional 427,694 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new stake in shares of Deere & Company in the 4th quarter worth about $81,361,000. Institutional investors and hedge funds own 66.77% of the company’s stock.
Several research firms have commented on DE. Jefferies Financial Group increased their price objective on shares of Deere & Company from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, January 15th. Citigroup raised their price objective on shares of Deere & Company from $325.00 to $375.00 and gave the stock a “neutral” rating in a report on Wednesday, March 10th. BMO Capital Markets raised their price objective on shares of Deere & Company from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, January 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Deere & Company from $287.00 to $360.00 and gave the company a “hold” rating in a report on Monday, March 1st. Finally, Argus raised their price target on shares of Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a report on Monday, March 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $320.20.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $1.70. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the business earned $1.63 earnings per share. Deere & Company’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 13.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, March 30th. This is an increase from Deere & Company’s previous quarterly dividend of $0.76. Deere & Company’s dividend payout ratio (DPR) is currently 41.43%.
About Deere & Company
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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