JustInvest LLC grew its position in Deere & Company (NYSE:DE) by 49.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,929 shares of the industrial products company’s stock after acquiring an additional 1,293 shares during the quarter. JustInvest LLC’s holdings in Deere & Company were worth $1,470,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. US Bancorp DE lifted its position in Deere & Company by 1.5% during the first quarter. US Bancorp DE now owns 266,690 shares of the industrial products company’s stock worth $99,780,000 after buying an additional 4,058 shares in the last quarter. Park Avenue Securities LLC lifted its position in Deere & Company by 23.1% during the first quarter. Park Avenue Securities LLC now owns 2,225 shares of the industrial products company’s stock worth $832,000 after buying an additional 417 shares in the last quarter. Lindbrook Capital LLC raised its position in Deere & Company by 16.7% in the first quarter. Lindbrook Capital LLC now owns 287 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 41 shares during the period. Legacy Financial Advisors Inc. raised its position in Deere & Company by 12.8% in the first quarter. Legacy Financial Advisors Inc. now owns 892 shares of the industrial products company’s stock valued at $334,000 after purchasing an additional 101 shares during the period. Finally, Wilkinson Global Asset Management LLC purchased a new stake in Deere & Company in the first quarter valued at $2,825,000. Hedge funds and other institutional investors own 66.77% of the company’s stock.
DE traded down $0.28 on Tuesday, hitting $373.49. 14,901 shares of the company traded hands, compared to its average volume of 1,723,536. The company has a 50 day moving average of $374.56 and a 200-day moving average of $305.50. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $117.07 billion, a PE ratio of 42.96, a PEG ratio of 1.43 and a beta of 0.96. Deere & Company has a 12-month low of $117.85 and a 12-month high of $392.42.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 10th. Shareholders of record on Wednesday, March 31st will be given a dividend of $0.90 per share. This is a boost from Deere & Company’s previous quarterly dividend of $0.76. The ex-dividend date is Tuesday, March 30th. This represents a $3.60 annualized dividend and a yield of 0.96%. Deere & Company’s payout ratio is presently 41.43%.
A number of equities research analysts have commented on DE shares. Barclays lifted their target price on Deere & Company from $330.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 22nd. Argus lifted their price objective on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, March 1st. Citigroup lifted their price objective on Deere & Company from $325.00 to $375.00 and gave the company a “neutral” rating in a research note on Wednesday, March 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Deere & Company from $360.00 to $402.00 and gave the company a “hold” rating in a research note on Monday, April 19th. Finally, BMO Capital Markets lifted their price objective on Deere & Company from $300.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, January 25th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Deere & Company currently has an average rating of “Buy” and an average price target of $327.95.
Deere & Company Company Profile
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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