Glen Eagle Advisors LLC Acquires 25 Shares of Deere & Company (NYSE:DE)

Glen Eagle Advisors LLC boosted its holdings in Deere & Company (NYSE:DE) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,936 shares of the industrial products company’s stock after purchasing an additional 25 shares during the period. Glen Eagle Advisors LLC’s holdings in Deere & Company were worth $1,244,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Compass Financial Services Inc bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $254,000. Banque Pictet & Cie SA increased its holdings in shares of Deere & Company by 2.0% during the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after acquiring an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC increased its holdings in shares of Deere & Company by 2.9% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after acquiring an additional 1,407 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $847,000. Finally, BankPlus Trust Department bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $1,127,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DE shares. Bank of America boosted their price objective on Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a report on Friday, May 16th. DA Davidson restated a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Robert W. Baird upped their price target on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Oppenheimer upped their price target on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price of $513.00.

Deere & Company Stock Performance

NYSE:DE opened at $525.86 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The firm has a market cap of $142.73 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.14 and a beta of 1.08. The business’s fifty day moving average is $470.64 and its 200 day moving average is $456.41.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the company posted $8.53 EPS. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. Research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were paid a $1.62 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.23%. Deere & Company’s dividend payout ratio is currently 31.35%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.