Farr Miller & Washington LLC DC Makes New $236,000 Investment in Deere & Company (NYSE:DE)

Farr Miller & Washington LLC DC acquired a new position in Deere & Company (NYSE:DE) during the first quarter, Holdings Channel.com reports. The firm acquired 632 shares of the industrial products company’s stock, valued at approximately $236,000.

Other hedge funds have also recently modified their holdings of the company. Amundi Asset Management US Inc. raised its stake in shares of Deere & Company by 13.7% in the 1st quarter. Amundi Asset Management US Inc. now owns 684,301 shares of the industrial products company’s stock valued at $256,026,000 after purchasing an additional 82,438 shares in the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Deere & Company by 2.0% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 29,180 shares of the industrial products company’s stock valued at $10,917,000 after purchasing an additional 583 shares in the last quarter. BSW Wealth Partners acquired a new stake in shares of Deere & Company in the 1st quarter valued at about $450,000. Merit Financial Group LLC acquired a new stake in shares of Deere & Company in the 1st quarter valued at about $238,000. Finally, State of Wisconsin Investment Board raised its stake in shares of Deere & Company by 22.8% in the 1st quarter. State of Wisconsin Investment Board now owns 389,275 shares of the industrial products company’s stock valued at $145,643,000 after purchasing an additional 72,196 shares in the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Deere & Company from $360.00 to $402.00 and gave the company a “hold” rating in a research note on Tuesday, April 13th. increased their price objective on shares of Deere & Company from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, May 14th. Citigroup increased their price objective on shares of Deere & Company from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, May 14th. Jefferies Financial Group increased their price objective on shares of Deere & Company from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, May 25th. Finally, BMO Capital Markets increased their price objective on shares of Deere & Company from $400.00 to $425.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 25th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $352.39.

In related news, Director Tami A. Erwin acquired 275 shares of the firm’s stock in a transaction dated Wednesday, June 2nd. The stock was acquired at an average cost of $359.61 per share, for a total transaction of $98,892.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. May II sold 39,336 shares of the stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $359.07, for a total transaction of $14,124,377.52. Following the completion of the transaction, the chief executive officer now owns 78,949 shares of the company’s stock, valued at $28,348,217.43. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Deere & Company stock opened at $353.00 on Thursday. The company has a 50 day moving average of $352.10. The company has a quick ratio of 2.05, a current ratio of 2.29 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $110.11 billion, a PE ratio of 24.33, a PEG ratio of 0.96 and a beta of 1.03. Deere & Company has a 12-month low of $172.91 and a 12-month high of $400.34.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 20th. The industrial products company reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $1.24. The business had revenue of $11 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Deere & Company had a net margin of 11.51% and a return on equity of 33.31%. The business’s revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm posted $2.11 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 17.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 9th. Stockholders of record on Wednesday, June 30th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Tuesday, June 29th. Deere & Company’s dividend payout ratio (DPR) is presently 41.43%.

Deere & Company Company Profile

Deere & Co engages in the manufacturing 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 manufacturing of full line of agriculture and turf equipment and related service parts.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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