OP Asset Management Ltd Purchases Shares of 26,211 Deere & Company $DE

OP Asset Management Ltd acquired a new position in shares of Deere & Company (NYSE:DEFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,211 shares of the industrial products company’s stock, valued at approximately $14,765,000.

Other large investors have also modified their holdings of the company. Strategic Advocates LLC acquired a new stake in Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC acquired a new position in Deere & Company in the fourth quarter valued at $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter valued at $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company during the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company during the third quarter worth about $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $601.91 on Thursday. The firm has a market cap of $162.48 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.19 and a beta of 0.92. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The business’s 50-day moving average price is $573.07 and its 200 day moving average price is $555.79. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the business earned $6.64 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DE. Truist Financial reduced their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Wolfe Research boosted their price objective on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Raymond James Financial decreased their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Finally, Robert W. Baird cut their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Check Out Our Latest Research Report on DE

Deere & Company Company Profile

(Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

See Also

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

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