Altman Advisors Inc. Acquires 81 Shares of Deere & Company (NYSE:DE)

Altman Advisors Inc. raised its holdings in shares of Deere & Company (NYSE:DE) by 2.2% in the first quarter, HoldingsChannel reports. The firm owned 3,807 shares of the industrial products company’s stock after buying an additional 81 shares during the quarter. Altman Advisors Inc.’s holdings in Deere & Company were worth $1,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after purchasing an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares during the last quarter. Stenger Family Office LLC bought a new position in Deere & Company during the 4th quarter valued at approximately $3,144,000. Stratos Investment Management LLC bought a new position in Deere & Company during the 1st quarter valued at approximately $271,000. Finally, Telos Capital Management Inc. raised its position in Deere & Company by 28.2% during the 1st quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company’s stock valued at $1,592,000 after purchasing an additional 746 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several research reports. Robert W. Baird increased their target price on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Bank of America increased their target price on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Finally, Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $515.50.

Deere & Company Stock Down 0.9%

DE stock opened at $503.18 on Wednesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a market cap of $136.28 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. The business has a 50 day moving average of $511.79 and a 200 day moving average of $479.40.

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

Deere & Company Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.29%. 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.