Spectrum Financial Alliance Ltd LLC boosted its holdings in Deere & Company (NYSE:DE – Free 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 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
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
- Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
- Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
- Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC
About Deere & Company
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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