L & S Advisors Inc Buys New Position in Deere & Company $DE

L & S Advisors Inc purchased a new position in Deere & Company (NYSE:DE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,382 shares of the industrial products company’s stock, valued at approximately $6,296,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oak Harvest Investment Services increased its stake in Deere & Company by 205.9% during the 2nd quarter. Oak Harvest Investment Services now owns 22,201 shares of the industrial products company’s stock valued at $11,289,000 after purchasing an additional 14,944 shares in the last quarter. Intrua Financial LLC increased its position in shares of Deere & Company by 152.5% in the 2nd quarter. Intrua Financial LLC now owns 1,442 shares of the industrial products company’s stock valued at $734,000 after acquiring an additional 871 shares during the period. Clearstead Trust LLC raised its stake in Deere & Company by 2.8% in the 2nd quarter. Clearstead Trust LLC now owns 8,069 shares of the industrial products company’s stock worth $4,103,000 after acquiring an additional 221 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC purchased a new position in Deere & Company in the 2nd quarter worth $213,000. Finally, ABN Amro Investment Solutions acquired a new stake in Deere & Company during the 2nd quarter worth about $116,035,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $473.54 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a market cap of $128.01 billion, a PE ratio of 24.75, a P/E/G ratio of 3.05 and a beta of 1.04. The stock has a 50 day moving average price of $465.98 and a 200 day moving average price of $490.57. Deere & Company has a one year low of $387.79 and a one year high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 EPS. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Tuesday, September 30th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DE. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Truist Financial increased their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Tuesday. Finally, Jefferies Financial Group reduced their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $520.00.

Deere & Company 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.