Buckingham Asset Management LLC Raises Stock Position in Deere & Company (NYSE:DE)
Buckingham Asset Management LLC grew its holdings in Deere & Company (NYSE:DE) by 3.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,279 shares of the industrial products company’s stock after buying an additional 112 shares during the period. Buckingham Asset Management LLC’s holdings in Deere & Company were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Wafra Inc. bought a new stake in shares of Deere & Company in the 1st quarter worth about $23,480,000. MBE Wealth Management LLC bought a new stake in shares of Deere & Company in the 1st quarter worth about $35,000. WASHINGTON TRUST Co lifted its holdings in shares of Deere & Company by 5.6% in the 1st quarter. WASHINGTON TRUST Co now owns 90,861 shares of the industrial products company’s stock worth $12,554,000 after acquiring an additional 4,834 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Deere & Company by 2,608.7% in the 1st quarter. Benjamin Edwards Inc. now owns 4,036 shares of the industrial products company’s stock worth $558,000 after acquiring an additional 3,887 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Deere & Company by 19.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,441 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 396 shares during the last quarter. 67.94% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on DE. JPMorgan Chase & Co. upgraded shares of Deere & Company from an “underweight” rating to a “neutral” rating and set a $140.00 target price for the company in a report on Friday, March 27th. They noted that the move was a valuation call. Credit Suisse Group raised their target price on shares of Deere & Company from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, February 24th. Deutsche Bank lifted their price objective on shares of Deere & Company from $169.00 to $175.00 and gave the company a “hold” rating in a report on Monday, February 24th. Citigroup lowered shares of Deere & Company from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $155.00 in a report on Tuesday, April 14th. Finally, Telsey Advisory Group upgraded shares of Deere & Company from a “market perform” rating to an “outperform” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $168.93.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, February 21st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.35. The firm had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.17 billion. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 EPS. As a group, equities research analysts forecast that Deere & Company will post 6.1 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 2.41%. The ex-dividend date was Monday, March 30th. Deere & Company’s dividend payout ratio is presently 30.58%.
In other news, insider Pentz Markwart Von sold 7,562 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $178.00, for a total value of $1,346,036.00. Following the sale, the insider now directly owns 67,974 shares of the company’s stock, valued at approximately $12,099,372. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.
Deere & Company Profile
Deere & Company 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 offers agriculture and turf equipment, and related 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; and tillage, seeding, and application equipment.
Featured Article: How a Strangle Strategy is different from a Straddle Strategy
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.