NEOS Investment Management LLC grew its position in Deere & Company (NYSE:DE – Free Report) by 14.1% during the second quarter, Holdings Channel reports. The institutional investor owned 41,169 shares of the industrial products company’s stock after acquiring an additional 5,082 shares during the quarter. NEOS Investment Management LLC’s holdings in Deere & Company were worth $26,115,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $27,000. Kilter Group LLC purchased a new position in Deere & Company during the 2nd quarter worth approximately $29,000. Solstein Capital LLC purchased a new position in Deere & Company during the 2nd quarter worth approximately $30,000. Orion Capital Management LLC acquired a new stake in Deere & Company during the 2nd quarter valued at approximately $32,000. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of Deere & Company in the 1st quarter valued at $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Deere & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Oppenheimer upped their price target on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. UBS Group cut 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. Evercore upgraded Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price objective for the company in a research note on Wednesday. Finally, DA Davidson boosted their price objective on Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a report on Monday, August 24th. Sixteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $680.73.
Deere & Company Stock Performance
DE opened at $692.68 on Friday. The firm has a fifty day moving average price of $619.13 and a 200 day moving average price of $596.29. Deere & Company has a 1 year low of $433.00 and a 1 year high of $705.88. The stock has a market cap of $186.76 billion, a P/E ratio of 38.48, a P/E/G ratio of 2.86 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly 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 revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $4.75 earnings per share. Equities research analysts anticipate that Deere & Company will post 18.12 earnings per share for the current year.
Deere & Company Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is currently 36.00%.
Deere & Company 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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