Deere & Company (NYSE:DE) Holdings Lifted by Fagan Associates Inc.

Fagan Associates Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,391 shares of the industrial products company’s stock after purchasing an additional 575 shares during the period. Fagan Associates Inc.’s holdings in Deere & Company were worth $1,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $39,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Deere & Company during the 1st quarter worth approximately $45,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE traded up $3.96 during mid-day trading on Monday, hitting $503.78. The stock had a trading volume of 116,213 shares, compared to its average volume of 1,353,086. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock has a market cap of $136.44 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 3.17 and a beta of 1.08. The company’s 50 day simple moving average is $512.85 and its 200 day simple moving average is $481.48. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.

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, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the prior year, the firm posted $8.53 earnings per share. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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 paid 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 1.29%. Deere & Company’s payout ratio is 31.35%.

Analyst Ratings Changes

A number of research firms have recently weighed in on DE. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their target price on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Evercore ISI boosted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.