Bryn Mawr Capital Management LLC Has $544,000 Stake in Deere & Company (NYSE:DE)

Bryn Mawr Capital Management LLC grew its position in Deere & Company (NYSE:DE) by 29.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159 shares of the industrial products company’s stock after purchasing an additional 261 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Deere & Company were worth $544,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC bought a new stake in shares of Deere & Company in the first quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the fourth quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $42,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $508.13 on Thursday. The business’s 50 day moving average price is $512.51 and its two-hundred day moving average price is $479.60. The company has a market cap of $137.62 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.19 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping 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 firm 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 earnings per share. The business’s revenue was down 17.9% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DE. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. DA Davidson reiterated a “buy” rating and set a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. Evercore ISI upped their target price on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target of $515.50.

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.