Deere & Company (NYSE:DE) Shares Sold by Richards Merrill & Peterson Inc.

Richards Merrill & Peterson Inc. lessened its holdings in shares of Deere & Company (NYSE:DEFree Report) by 47.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 142 shares of the industrial products company’s stock after selling 130 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Deere & Company were worth $67,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after buying an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after buying an additional 798 shares in the last quarter. Stenger Family Office LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $3,144,000. Stratos Investment Management LLC bought a new stake in Deere & Company during the first quarter worth approximately $271,000. Finally, Telos Capital Management Inc. boosted its holdings in Deere & Company by 28.2% during the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company’s stock worth $1,592,000 after buying an additional 746 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $517.58 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. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock’s 50-day moving average is $513.03 and its two-hundred day moving average is $484.81. The firm has a market cap of $140.18 billion, a P/E ratio of 25.04, a PEG ratio of 3.28 and a beta of 1.08.

Deere & Company (NYSE:DEGet Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share 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 company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the firm posted $8.53 EPS. The business’s revenue was down 17.9% compared to the same quarter last year. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 annualized dividend and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DE shares. Raymond James Financial boosted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Bank of America boosted their target price on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $515.50.

Get Our Latest Stock Analysis on Deere & Company

Deere & Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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