Magnolia Capital Advisors LLC Makes New $1.21 Million Investment in Deere & Company $DE

Magnolia Capital Advisors LLC bought a new position in shares of Deere & Company (NYSE:DEFree Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,911 shares of the industrial products company’s stock, valued at approximately $1,212,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Deere & Company in the 2nd quarter valued at about $27,000. Kilter Group LLC bought a new position in shares of Deere & Company during the second quarter worth about $29,000. Solstein Capital LLC bought a new position in shares of Deere & Company during the second quarter worth about $30,000. Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company in the first quarter worth approximately $32,000. Finally, Timmons Wealth Management LLC acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $29,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup upped their target price on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. DA Davidson raised their price target on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Monday. Raymond James Financial dropped their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Oppenheimer upped their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Finally, Truist Financial decreased their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $653.48.

View Our Latest Stock Analysis on Deere & Company

Deere & Company Trading Up 0.4%

Shares of Deere & Company stock opened at $633.36 on Thursday. 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 52 week low of $433.00 and a 52 week high of $674.19. The stock has a 50 day moving average price of $610.13 and a two-hundred day moving average price of $592.80. The stock has a market capitalization of $170.97 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DEGet Free Report) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same period in the prior year, the firm earned $4.75 earnings per share. Deere & Company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Deere & 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.

Further Reading

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

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