Cobblestone Capital Advisors LLC NY Buys 24 Shares of Deere & Company (NYSE:DE)

Cobblestone Capital Advisors LLC NY raised its stake in Deere & Company (NYSE:DE) by 1.2% in the 1st quarter, HoldingsChannel reports. The firm owned 2,109 shares of the industrial products company’s stock after acquiring an additional 24 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Deere & Company were worth $990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC grew its holdings in shares of Deere & Company by 116.1% during the first 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 acquired a new position in shares of Deere & Company during the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the fourth quarter valued at about $39,000. Finally, Citizens National Bank Trust Department purchased a new position in Deere & Company during the first quarter worth about $45,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $510.57 on Monday. The company’s 50 day moving average is $512.47 and its 200-day moving average is $489.38. Deere & Company has a 12-month low of $343.38 and a 12-month high of $533.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a market cap of $138.28 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 3.24 and a beta of 1.06.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 earnings per share. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

Analyst Upgrades and Downgrades

DE has been the topic of several analyst reports. Bank of America boosted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Barclays boosted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Finally, DA Davidson restated a “buy” rating and set a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $523.93.

Deere & Company 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.