HighPoint Advisor Group LLC Raises Stake in Deere & Company (NYSE:DE)

HighPoint Advisor Group LLC grew its stake in shares of Deere & Company (NYSE:DE) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,298 shares of the industrial products company’s stock after purchasing an additional 473 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Deere & Company were worth $3,822,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DE. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its holdings in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC bought a new position in Deere & Company in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America raised their price target on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a report on Friday, May 16th. UBS Group reduced their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Citigroup dropped their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. One research 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 company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $515.50.

Deere & Company Trading Up 0.8%

Shares of NYSE DE opened at $504.05 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market capitalization of $136.51 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The business has a fifty day moving average price of $512.85 and a 200 day moving average price of $481.48.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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. The firm had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.53 EPS. Equities research 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. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

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.