Calamos Wealth Management LLC Purchases 492 Shares of Deere & Company (NYSE:DE)

Calamos Wealth Management LLC raised its position in Deere & Company (NYSE:DE) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,980 shares of the industrial products company’s stock after purchasing an additional 492 shares during the period. Calamos Wealth Management LLC’s holdings in Deere & Company were worth $13,602,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company during the fourth quarter worth about $39,000. Citizens National Bank Trust Department acquired a new position in Deere & Company in the first quarter valued at about $45,000. Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter worth about $42,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Deere & Company in the first quarter worth about $47,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.5%

Shares of DE stock opened at $517.50 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The stock has a market cap of $140.15 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.30 and a beta of 1.08. The firm’s 50-day moving average is $505.29 and its 200-day moving average is $474.73. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.53 earnings per share. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s payout ratio is presently 31.35%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Oppenheimer lifted their price target on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $515.19.

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.