Deere & Company (NYSE:DE) Position Raised by Park Avenue Securities LLC

Park Avenue Securities LLC raised its position in shares of Deere & Company (NYSE:DE) by 16.5% in the first quarter, HoldingsChannel.com reports. The firm owned 5,503 shares of the industrial products company’s stock after buying an additional 779 shares during the period. Park Avenue Securities LLC’s holdings in Deere & Company were worth $2,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Pictet & Cie SA boosted its stake in Deere & Company by 2.0% during the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after buying an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC lifted its holdings in Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after acquiring an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Deere & Company during the 4th quarter valued at about $847,000. BankPlus Trust Department acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $1,127,000. Finally, Stenger Family Office LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $3,144,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 0.3%

NYSE:DE opened at $521.63 on Tuesday. The stock has a market cap of $141.27 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock’s 50-day moving average is $480.22 and its two-hundred day moving average is $467.10.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating 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 net margin of 12.94% and a return on equity of 27.31%. The firm’s revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $8.53 earnings per share. As a group, equities research analysts forecast 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 issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

Several research firms recently commented on DE. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Bank of America raised their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Barclays lifted their target price on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Finally, Melius raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $515.19.

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.