Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Deere & Company (NYSE:DE – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 210,278 shares of the industrial products company’s stock, valued at approximately $133,386,000.
Several other large investors also recently modified their holdings of the stock. HBK Sorce Advisory LLC bought a new stake in Deere & Company in the 2nd quarter valued at about $3,266,000. Briggs Wealth Management Inc purchased a new stake in Deere & Company in the 2nd quarter valued at $289,000. German American Bancorp Inc. purchased a new stake in shares of Deere & Company in the second quarter valued at about $1,026,000. Johnson Wealth Management LLC purchased a new stake in Deere & Company in the 2nd quarter valued at about $207,000. Finally, Nippon Life Global Investors Americas Inc. bought a new stake in Deere & Company during the second quarter worth $1,850,000. Institutional investors and hedge funds own 68.58% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Raymond James Financial reduced their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Citigroup lifted their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $641.98.
Deere & Company Price Performance
Deere & Company stock opened at $608.73 on Monday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The business has a fifty day moving average price of $603.23 and a 200-day moving average price of $588.27. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm has a market capitalization of $164.32 billion, a P/E ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $6.64 EPS. As a group, equities research analysts forecast that Deere & Company will post 18.26 EPS for the current year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.
Deere & Company Profile
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.
Featured Articles
- Five stocks we like better than Deere & Company
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE – Free Report).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.
