CIBC Asset Management Inc increased its stake in Deere & Company (NYSE:DE) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,062 shares of the industrial products company’s stock after purchasing an additional 1,578 shares during the quarter. CIBC Asset Management Inc’s holdings in Deere & Company were worth $5,444,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Destination Wealth Management increased its holdings in shares of Deere & Company by 20,500.0% in the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 205 shares in the last quarter. Private Ocean LLC increased its holdings in shares of Deere & Company by 560.0% in the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in shares of Deere & Company in the 1st quarter valued at about $33,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Deere & Company by 14,550.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 5,179,386 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in shares of Deere & Company by 155.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 68.93% of the company’s stock.
NYSE:DE opened at $147.11 on Thursday. The company has a quick ratio of 1.68, a current ratio of 1.98 and a debt-to-equity ratio of 2.46. Deere & Company has a twelve month low of $128.32 and a twelve month high of $169.99. The stock has a market cap of $46.59 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.90.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.22). Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the business posted $1.31 earnings per share. The business’s revenue was up 16.2% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 11.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.04 annualized dividend and a yield of 2.07%. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.
A number of equities analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Deere & Company in a report on Thursday. UBS Group assumed coverage on shares of Deere & Company in a report on Wednesday. They issued a “neutral” rating for the company. JPMorgan Chase & Co. downgraded shares of Deere & Company from a “neutral” rating to an “underweight” rating and cut their price target for the company from $154.00 to $132.00 in a report on Tuesday. Robert W. Baird downgraded shares of Deere & Company from an “outperform” rating to a “neutral” rating and cut their price target for the company from $166.00 to $150.00 in a report on Monday. Finally, Berenberg Bank assumed coverage on shares of Deere & Company in a report on Thursday, May 9th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $177.43.
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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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