Calamos Advisors LLC Raises Stock Holdings in Deere & Company $DE

Calamos Advisors LLC lifted its position in Deere & Company (NYSE:DE) by 50.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,146 shares of the industrial products company’s stock after buying an additional 25,527 shares during the period. Calamos Advisors LLC’s holdings in Deere & Company were worth $42,893,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new position in shares of Deere & Company during the third quarter valued at about $25,000. Key Capital Management INC purchased a new stake in Deere & Company in the fourth quarter valued at $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth about $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $30,000. Finally, Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the first quarter valued at $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Deere & Company stock opened at $586.06 on Tuesday. The company has a market capitalization of $158.20 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.17 and a beta of 0.89. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock has a fifty day moving average of $581.64 and a two-hundred day moving average of $568.53.

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

Deere & Company Announces Dividend

The firm also recently declared 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Analysts Set New Price Targets

A number of analysts have recently commented on DE shares. Citigroup cut their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. DA Davidson decreased their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Robert W. Baird lowered their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Bank of America cut their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $642.23.

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.