Moloney Securities Asset Management LLC trimmed its holdings in Deere & Company (NYSE:DE) by 6.3% in the 1st quarter, Holdings Channel reports. The fund owned 2,025 shares of the industrial products company’s stock after selling 135 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Deere & Company were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Klaas Financial Asset Advisors LLC bought a new position in shares of Deere & Company during the 4th quarter worth about $26,000. Grant Street Asset Management Inc. acquired a new position in Deere & Company in the 4th quarter valued at approximately $27,000. Brand Asset Management Group Inc. bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $27,000. Leelyn Smith LLC lifted its position in shares of Deere & Company by 2,500.0% in the 4th quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 100 shares during the period. Finally, Syverson Strege & Co bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 66.77% of the company’s stock.
Several research firms have recently weighed in on DE. Wolfe Research assumed coverage on shares of Deere & Company in a report on Monday, April 19th. They issued an “outperform” rating and a $425.00 target price on the stock. Vertical Research initiated coverage on Deere & Company in a report on Wednesday, January 20th. They set a “buy” rating and a $345.00 price objective for the company. Robert W. Baird upped their target price on shares of Deere & Company from $353.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Stifel Nicolaus raised their price target on Deere & Company from $325.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Finally, Jefferies Financial Group upped their price objective on Deere & Company from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, January 15th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $327.95.
Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $2.17 by $1.70. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. Deere & Company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. On average, research analysts predict that Deere & Company will post 13.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.90 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $0.76. This represents a $3.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, March 30th. Deere & Company’s dividend payout ratio is currently 41.43%.
About Deere & Company
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
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