Baird Financial Group Inc. Trims Position in Deere & Company (NYSE:DE)

Baird Financial Group Inc. lessened its stake in shares of Deere & Company (NYSE:DE – Get Rating) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,951 shares of the industrial products company’s stock after selling 5,017 shares during the period. Baird Financial Group Inc.’s holdings in Deere & Company were worth $44,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of DE. Worth Asset Management LLC purchased a new stake in Deere & Company in the 1st quarter valued at about $28,000. Riggs Asset Managment Co. Inc. raised its holdings in Deere & Company by 411.8% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 87 shares of the industrial products company’s stock valued at $29,000 after buying an additional 70 shares during the period. Bell Investment Advisors Inc raised its holdings in Deere & Company by 64.3% in the 3rd quarter. Bell Investment Advisors Inc now owns 92 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the period. IFS Advisors LLC purchased a new stake in Deere & Company in the 3rd quarter valued at about $35,000. Finally, Standard Family Office LLC purchased a new stake in Deere & Company in the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 75.72% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $402.45 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.76 and a debt-to-equity ratio of 1.64. Deere & Company has a twelve month low of $283.81 and a twelve month high of $448.40. The stock has a 50 day moving average of $419.53 and a two-hundred day moving average of $403.02. The stock has a market cap of $119.25 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.05 and a beta of 1.05.

Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, February 17th. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $1.02. Deere & Company had a return on equity of 41.17% and a net margin of 14.71%. The company had revenue of $11.40 billion during the quarter, compared to analysts’ expectations of $11.14 billion. During the same quarter in the previous year, the business earned $2.92 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 30.58 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 8th. Shareholders of record on Friday, March 31st will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.00 dividend on an annualized basis and a yield of 1.24%. This is a boost from Deere & Company’s previous quarterly dividend of $1.20. Deere & Company’s payout ratio is currently 17.80%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Deere & Company from $420.00 to $462.00 and gave the stock a “buy” rating in a research note on Monday, November 28th. UBS Group boosted their price target on shares of Deere & Company from $374.00 to $452.00 and gave the stock a “neutral” rating in a research note on Friday, November 25th. Bank of America boosted their price target on shares of Deere & Company from $478.00 to $484.00 in a research note on Monday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $415.00 to $440.00 and gave the stock a “neutral” rating in a research note on Friday, November 25th. Finally, Argus boosted their price target on shares of Deere & Company from $475.00 to $485.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $460.81.

Deere & Company Profile

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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.