EFG International AG acquired a new stake in shares of Deere & Company (NYSE:DE – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,546 shares of the industrial products company’s stock, valued at approximately $981,000.
Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 150 shares during the last quarter. Jump Financial LLC purchased a new stake in Deere & Company in the second quarter valued at approximately $2,153,000. NewEdge Advisors LLC raised its stake in Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after purchasing an additional 97 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have commented on DE. Barclays boosted their price target on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial dropped their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a report on Monday. DA Davidson upped their target price on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday. Oppenheimer increased their target price on Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Finally, UBS Group lowered their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $653.48.
Deere & Company Trading Up 0.4%
Shares of DE opened at $633.36 on Thursday. The firm has a market cap of $170.97 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a 50 day moving average price of $610.13 and a 200-day moving average price of $592.80.
Deere & Company (NYSE:DE – Get Free Report) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.75 EPS. As a group, equities research analysts forecast that Deere & Company will post 18.09 earnings per share for the current year.
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.
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