Madison Asset Management LLC Takes $203,000 Position in Deere & Company (NYSE:DE)

Madison Asset Management LLC acquired a new position in Deere & Company (NYSE:DEFree Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 507 shares of the industrial products company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the fourth quarter worth $28,000. Naples Money Management LLC acquired a new position in Deere & Company during the 4th quarter valued at about $29,000. Private Wealth Management Group LLC acquired a new position in Deere & Company during the 4th quarter valued at about $29,000. Bfsg LLC bought a new stake in shares of Deere & Company during the 4th quarter worth about $30,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $28,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.7 %

Deere & Company stock traded up $6.41 during mid-day trading on Friday, hitting $374.76. 2,332,147 shares of the company’s stock were exchanged, compared to its average volume of 1,424,964. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The stock has a 50 day moving average of $397.46 and a two-hundred day moving average of $386.48. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a market cap of $104.32 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.50 and a beta of 1.04.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.65 EPS. As a group, analysts anticipate that Deere & Company will post 25.75 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Wall Street Analyst Weigh In

A number of research firms recently commented on DE. Evercore ISI raised their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Wells Fargo & Company cut their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Stifel Nicolaus raised their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Daiwa Capital Markets lifted their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $432.92.

Check Out Our Latest Stock Analysis on Deere & Company

About Deere & Company

(Free Report)

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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

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