Trek Financial LLC Acquires 137 Shares of Deere & Company (NYSE:DE)

Trek Financial LLC grew its holdings in Deere & Company (NYSE:DE) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,596 shares of the industrial products company’s stock after acquiring an additional 137 shares during the quarter. Trek Financial LLC’s holdings in Deere & Company were worth $1,688,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after buying an additional 1,095,736 shares during the period. Capital World Investors lifted its stake in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC lifted its stake in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after purchasing an additional 97,203 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Deere & Company during the 4th quarter valued at $1,244,094,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DE shares. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Finally, Oppenheimer boosted their target price on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $515.19.

Deere & Company Stock Down 0.3%

Shares of DE stock opened at $508.88 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock’s fifty day moving average price is $508.42 and its 200 day moving average price is $476.69. The company has a market cap of $137.82 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 3.24 and a beta of 1.08. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company’s payout ratio is currently 31.35%.

Deere & Company Profile

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.