QRG Capital Management Inc. Has $8.29 Million Holdings in Deere & Company $DE

QRG Capital Management Inc. grew its position in Deere & Company (NYSE:DE) by 10.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,720 shares of the industrial products company’s stock after acquiring an additional 1,371 shares during the period. QRG Capital Management Inc.’s holdings in Deere & Company were worth $8,292,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Anchyra Partners LLC boosted its stake in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. increased its stake in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after buying an additional 17 shares during the period. Cerro Pacific Wealth Advisors LLC increased its stake in shares of Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC raised its holdings in Deere & Company by 2.2% in the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James Financial reduced their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Oppenheimer reissued an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Finally, Robert W. Baird decreased their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.23.

Deere & Company Price Performance

DE stock opened at $621.09 on Friday. The firm has a market cap of $167.66 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.30 and a beta of 0.89. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company’s fifty day simple moving average is $578.41 and its 200 day simple moving average is $562.69.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the prior year, the firm posted $6.64 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio is presently 36.71%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.