10,200 Shares in Deere & Company (NYSE:DE) Bought by Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new position in Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,200 shares of the industrial products company’s stock, valued at approximately $4,787,000. Deere & Company accounts for 0.8% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 28th largest position.

A number of other hedge funds also recently modified their holdings of DE. Sunbelt Securities Inc. increased its stake in Deere & Company by 2.4% in 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 period. First Bancorp Inc ME increased its stake in Deere & Company by 4.7% in 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 period. World Equity Group Inc. increased its stake in Deere & Company by 4.5% in 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 period. Coppell Advisory Solutions LLC increased its stake in Deere & Company by 2.5% in 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 period. Finally, Glen Eagle Advisors LLC increased its stake in Deere & Company by 0.9% in 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 period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.5%

Deere & Company stock traded up $2.69 during mid-day trading on Friday, hitting $501.83. The company had a trading volume of 94,959 shares, compared to its average volume of 1,340,491. 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 stock’s 50 day moving average price is $512.70 and its two-hundred day moving average price is $480.12. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a market capitalization of $135.91 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping 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 period in the previous year, the company posted $8.53 earnings per share. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business 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 $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays lifted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Evercore ISI lifted their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. Morgan Stanley lifted their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Finally, UBS Group cut their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $515.50.

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.