Ferguson Wellman Capital Management Inc. Buys 1,224 Shares of Deere & Company (NYSE:DE)

Ferguson Wellman Capital Management Inc. boosted its stake in Deere & Company (NYSE:DE) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,327 shares of the industrial products company’s stock after buying an additional 1,224 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Deere & Company were worth $5,316,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Greenwood Capital Associates LLC acquired a new position in Deere & Company in the first quarter valued at about $3,590,000. GPS Wealth Strategies Group LLC raised its stake in shares of Deere & Company by 16.9% in the first quarter. GPS Wealth Strategies Group LLC now owns 208 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 30 shares during the last quarter. Simon Quick Advisors LLC raised its position in Deere & Company by 11.5% in the 1st quarter. Simon Quick Advisors LLC now owns 1,191 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 123 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Deere & Company by 164.2% in the 1st quarter. Capital Advisors Ltd. LLC now owns 177 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 110 shares during the last quarter. Finally, Donaldson Capital Management LLC boosted its stake in Deere & Company by 14.6% in the first quarter. Donaldson Capital Management LLC now owns 707 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 90 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $520.72 on Thursday. The stock has a market cap of $141.03 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The stock has a 50-day moving average of $483.40 and a 200-day moving average of $467.81. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS 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 net margin of 12.94% and a return on equity of 27.31%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.53 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s payout ratio is presently 31.35%.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. DA Davidson restated a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Robert W. Baird boosted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $515.19.

About Deere & Company

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.