Busey Wealth Management cut its position in shares of Deere & Company (NYSE:DE) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,921 shares of the industrial products company’s stock after selling 61 shares during the quarter. Busey Wealth Management’s holdings in Deere & Company were worth $1,093,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Deere & Company during the 4th quarter worth $1,006,240,000. FMR LLC boosted its stake in shares of Deere & Company by 37.8% during the 4th quarter. FMR LLC now owns 4,701,751 shares of the industrial products company’s stock worth $1,265,007,000 after acquiring an additional 1,289,219 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Deere & Company by 62.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,204,272 shares of the industrial products company’s stock worth $324,010,000 after acquiring an additional 463,298 shares in the last quarter. AMF Pensionsforsakring AB boosted its stake in shares of Deere & Company by 238.9% during the 4th quarter. AMF Pensionsforsakring AB now owns 606,752 shares of the industrial products company’s stock worth $163,314,000 after acquiring an additional 427,694 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. bought a new stake in shares of Deere & Company during the 4th quarter worth $81,361,000. Institutional investors own 66.77% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Deere & Company from $394.00 to $410.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays raised their target price on Deere & Company from $330.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 22nd. Vertical Research initiated coverage on Deere & Company in a research report on Wednesday, January 20th. They issued a “buy” rating and a $345.00 target price for the company. Argus raised their target price on Deere & Company from $280.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Finally, BMO Capital Markets raised their target price on Deere & Company from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, January 25th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Deere & Company currently has an average rating of “Buy” and an average price target of $327.95.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $1.70. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.12 billion. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. On average, equities analysts expect that Deere & Company will post 13.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Wednesday, March 31st will be paid a $0.90 dividend. The ex-dividend date is Tuesday, March 30th. 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 dividend yield of 0.96%. Deere & Company’s payout ratio is presently 41.43%.
Deere & Company Company Profile
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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