Deere & Company $DE Shares Acquired by DMKC Advisory Services LLC

DMKC Advisory Services LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 199.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,039 shares of the industrial products company’s stock after acquiring an additional 8,680 shares during the period. Deere & Company accounts for approximately 3.4% of DMKC Advisory Services LLC’s portfolio, making the stock its 4th biggest position. DMKC Advisory Services LLC’s holdings in Deere & Company were worth $6,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Activest Wealth Management increased its position in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its stake in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in Deere & Company in the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $39,000. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on DE shares. DA Davidson cut their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Truist Financial lowered their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. Finally, Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $518.06.

Deere & Company Trading Down 1.3%

Shares of DE stock opened at $451.43 on Thursday. The firm has a 50 day moving average price of $486.80 and a two-hundred day moving average price of $489.36. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $122.04 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company posted $6.29 EPS. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, analysts predict 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 Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s payout ratio is 33.87%.

Deere & Company Profile

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.