Deere & Company $DE is Spectrum Financial Alliance Ltd LLC’s 5th Largest Position

Spectrum Financial Alliance Ltd LLC boosted its holdings in Deere & Company (NYSE:DEFree Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,561 shares of the industrial products company’s stock after purchasing an additional 3,210 shares during the period. Deere & Company makes up 9.6% of Spectrum Financial Alliance Ltd LLC’s portfolio, making the stock its 5th largest position. Spectrum Financial Alliance Ltd LLC’s holdings in Deere & Company were worth $49,887,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Advocates LLC purchased a new position in Deere & Company during the 3rd quarter valued at about $25,000. Key Capital Management INC bought a new position in Deere & Company in the fourth quarter worth $27,000. Timmons Wealth Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Finally, Portus Wealth Advisors LLC purchased a new position in Deere & Company during the first quarter valued at $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.9%

NYSE DE traded down $5.54 during trading hours on Friday, hitting $587.36. 782,098 shares of the company were exchanged, compared to its average volume of 1,174,307. The stock has a market cap of $158.55 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89. 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 $581.74 and a 200 day moving average price of $566.99. 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 released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate 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%.Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.64 EPS. Analysts forecast that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Ratings Changes

Several research analysts have issued reports on DE shares. Robert W. Baird decreased their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Raymond James Financial cut their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Citigroup cut their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $642.23.

View Our Latest Analysis on Deere & Company

Key Headlines Impacting Deere & Company

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About Deere & Company

(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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