Friedenthal Financial Invests $965,000 in Deere & Company $DE

Friedenthal Financial acquired a new stake in Deere & Company (NYSE:DE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,898 shares of the industrial products company’s stock, valued at approximately $965,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Southland Equity Partners LLC lifted its stake in Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 20 shares during the period. Chicago Partners Investment Group LLC lifted its stake in Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after acquiring an additional 21 shares during the period. Tyler Stone Wealth Management lifted its stake in Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 21 shares during the period. McLean Asset Management Corp lifted its stake in Deere & Company by 4.0% in the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 21 shares during the period. Finally, Trilogy Capital Inc. lifted its stake in Deere & Company by 1.3% in the second quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock worth $860,000 after acquiring an additional 21 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $461.08 on Wednesday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. 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 cap of $124.64 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02. The firm’s 50-day moving average price is $482.54 and its 200-day moving average price is $488.94.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the company posted $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DE. Robert W. Baird lowered their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Daiwa Capital Markets reduced their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Finally, Oppenheimer reduced their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

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.