Mather Group LLC. Boosts Stock Position in Deere & Company (NYSE:DE)

Mather Group LLC. lifted its holdings in Deere & Company (NYSE:DE) by 27.9% in the first quarter, HoldingsChannel reports. The firm owned 1,733 shares of the industrial products company’s stock after purchasing an additional 378 shares during the quarter. Mather Group LLC.’s holdings in Deere & Company were worth $814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the fourth quarter worth $39,000. Citizens National Bank Trust Department purchased a new position in Deere & Company during the first quarter worth $45,000. Dogwood Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter worth $42,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Deere & Company during the first quarter worth $47,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 2.4%

NYSE:DE opened at $520.33 on Thursday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The company has a market cap of $140.92 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 3.23 and a beta of 1.08. The stock has a fifty day simple moving average of $504.22 and a 200-day simple moving average of $474.18. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $8.53 earnings per share. Analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s payout ratio is currently 31.35%.

Analyst Ratings Changes

DE has been the subject of several recent analyst reports. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Oppenheimer lifted their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Raymond James Financial lifted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Finally, Robert W. Baird lifted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $515.19.

Deere & Company Company Profile

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.