Keybank National Association OH decreased its position in shares of Deere & Company (NYSE:DE) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,078 shares of the industrial products company’s stock after selling 1,752 shares during the quarter. Keybank National Association OH’s holdings in Deere & Company were worth $13,919,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Destination Wealth Management raised its position in shares of Deere & Company by 20,500.0% during the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 205 shares during the last quarter. Private Ocean LLC raised its position in shares of Deere & Company by 560.0% during the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in shares of Deere & Company during the 1st quarter worth approximately $33,000. Oregon Public Employees Retirement Fund raised its position in shares of Deere & Company by 14,550.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 5,179,386 shares during the last quarter. Finally, Athena Capital Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $36,000. 68.93% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on DE shares. Credit Suisse Group cut their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a report on Tuesday, February 19th. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and cut their price target for the company from $173.00 to $170.00 in a report on Wednesday, February 13th. DZ Bank downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Argus boosted their price target on Deere & Company to $175.00 and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, UBS Group started coverage on Deere & Company in a report on Tuesday, April 23rd. They issued a “neutral” rating and a $238.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $166.50.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). The firm had revenue of $10.27 billion for the quarter, compared to analyst estimates of $10.19 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.14 earnings per share. On average, analysts forecast that Deere & Company will post 11.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th were issued a dividend of $0.76 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.19%. Deere & Company’s payout ratio is 32.37%.
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Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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