SNS Financial Group LLC Buys Shares of 807 Deere & Company (NYSE:DE)

SNS Financial Group LLC purchased a new stake in Deere & Company (NYSE:DE) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 807 shares of the industrial products company’s stock, valued at approximately $380,000.

Several other institutional investors have also recently added to or reduced their stakes in DE. Assenagon Asset Management S.A. grew its holdings in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of 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 worth $3,863,000 after acquiring an additional 798 shares during the period. Stenger Family Office LLC purchased a new stake in Deere & Company during the 4th quarter worth about $3,144,000. Stratos Investment Management LLC purchased a new stake in Deere & Company during the 1st quarter worth about $271,000. Finally, Telos Capital Management Inc. raised its stake in Deere & Company by 28.2% in the first 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 in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group reduced 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. Oppenheimer set a $560.00 price target on Deere & Company and gave the stock an “outperform” rating in a research report on Tuesday. Barclays boosted their price objective on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Robert W. Baird boosted their price objective on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Morgan Stanley boosted their price objective on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $515.50.

Deere & Company Stock Up 0.2%

Deere & Company stock traded up $0.81 during mid-day trading on Friday, reaching $499.95. The stock had a trading volume of 1,064,545 shares, compared to its average volume of 1,342,614. The company has a market capitalization of $135.40 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 3.16 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a 50-day moving average price of $512.85 and a two-hundred day moving average price of $480.65.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS 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 business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the prior year, the business posted $8.53 earnings per share. The business’s quarterly revenue was down 17.9% on a year-over-year basis. On average, analysts expect 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. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

Deere & Company 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.