QRG Capital Management Inc. Buys 1,371 Shares of Deere & Company $DE

QRG Capital Management Inc. boosted its stake in Deere & Company (NYSE:DE) by 10.3% in the first quarter, HoldingsChannel reports. The firm owned 14,720 shares of the industrial products company’s stock after buying 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 SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Anchyra Partners LLC boosted its position in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. grew its stake in shares of Deere & Company by 0.6% in the 1st 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 position in Deere & Company by 0.6% in the 4th 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 in the last quarter. Hazlett Burt & Watson Inc. increased its position 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 in the last quarter. Finally, Root Financial Partners LLC raised its stake in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock worth $410,000 after buying an additional 19 shares during the period. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DE. DA Davidson cut their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Oppenheimer reiterated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Finally, Truist Financial lifted their price target on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $642.23.

Deere & Company Price Performance

Shares of NYSE DE opened at $621.09 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The stock 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 debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm’s 50-day simple moving average is $578.41 and its 200 day simple moving average is $562.69.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 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.