Deere & Company (NYSE:DE) is CORDA Investment Management LLC.’s 5th Largest Position

CORDA Investment Management LLC. lowered its position in Deere & Company (NYSE:DE) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,075 shares of the industrial products company’s stock after selling 2,324 shares during the quarter. Deere & Company makes up approximately 3.7% of CORDA Investment Management LLC.’s portfolio, making the stock its 5th biggest position. CORDA Investment Management LLC.’s holdings in Deere & Company were worth $46,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. increased its position in shares of Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 22 shares during the last quarter. First Bancorp Inc ME increased its position in shares of Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 23 shares during the last quarter. World Equity Group Inc. increased its position in shares of Deere & Company by 4.5% during the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in shares of Deere & Company by 2.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 25 shares during the last quarter. Finally, Glen Eagle Advisors LLC increased its position in shares of Deere & Company by 0.9% during the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock worth $1,244,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. UBS Group reduced their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Finally, Citigroup cut their target price on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $515.19.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $508.88 on Wednesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The stock has a market capitalization of $137.82 billion, a P/E ratio of 24.62, a PEG ratio of 3.24 and a beta of 1.08. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The business’s fifty day moving average price is $508.42 and its 200 day moving average price is $476.69.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company posted $8.53 earnings per share. As a group, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.