Drexel Morgan & Co. grew its position in shares of Deere & Company (NYSE:DE) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,020 shares of the industrial products company’s stock after acquiring an additional 345 shares during the quarter. Deere & Company comprises 1.8% of Drexel Morgan & Co.’s portfolio, making the stock its 19th biggest position. Drexel Morgan & Co.’s holdings in Deere & Company were worth $2,081,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc increased its stake in Deere & Company by 0.9% during the third quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock worth $3,412,282,000 after acquiring an additional 210,597 shares during the last quarter. BlackRock Inc. grew its stake in shares of Deere & Company by 0.4% in the first quarter. BlackRock Inc. now owns 18,523,593 shares of the industrial products company’s stock valued at $2,960,812,000 after buying an additional 78,890 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Deere & Company by 14,550.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock valued at $35,000 after buying an additional 5,179,386 shares in the last quarter. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $582,245,000. Finally, Northern Trust Corp grew its stake in shares of Deere & Company by 2.2% in the fourth quarter. Northern Trust Corp now owns 3,879,566 shares of the industrial products company’s stock valued at $578,714,000 after buying an additional 83,637 shares in the last quarter. Institutional investors own 68.10% of the company’s stock.
Shares of NYSE DE opened at $149.81 on Tuesday. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $169.99. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The company has a market cap of $47.14 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.02.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The business had revenue of $10.27 billion for the quarter, compared to analyst estimates of $10.19 billion. During the same quarter last year, the business earned $3.14 EPS. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 10.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a yield of 2.03%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
A number of research firms have recently issued reports on DE. Credit Suisse Group lowered their target price on Deere & Company from $209.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, May 20th. Morgan Stanley lowered their target price on Deere & Company from $192.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a research note on Thursday, February 14th. Deutsche Bank lowered their target price on Deere & Company from $159.00 to $148.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Finally, UBS Group lowered their target price on Deere & Company from $177.00 to $158.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $162.29.
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About Deere & Company
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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