Dearborn Partners LLC Has $2.46 Million Stock Position in Deere & Company $DE

Dearborn Partners LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 22.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,274 shares of the industrial products company’s stock after selling 1,551 shares during the quarter. Dearborn Partners LLC’s holdings in Deere & Company were worth $2,455,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Strategic Advocates LLC purchased a new position in Deere & Company during the third quarter worth about $25,000. Key Capital Management INC purchased a new position in Deere & Company during the fourth quarter worth about $27,000. McIlrath & Eck LLC purchased a new position in Deere & Company during the fourth quarter worth about $30,000. Wealth Watch Advisors INC purchased a new position in Deere & Company during the third quarter worth about $32,000. Finally, Tucker Asset Management LLC purchased a new position in Deere & Company during the fourth quarter worth about $34,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock opened at $583.80 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The stock has a market cap of $157.59 billion, a PE ratio of 33.08, a P/E/G ratio of 2.16 and a beta of 0.92. The firm has a 50 day simple moving average of $572.86 and a two-hundred day simple moving average of $545.60.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the company earned $6.64 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 18.08 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. 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 payout ratio is currently 36.71%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DE. Argus boosted their target price on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Citigroup lowered their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. UBS Group boosted their price target on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Oppenheimer reissued an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $639.58.

About Deere & Company

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.