Focus Partners Advisor Solutions LLC bought a new stake in shares of Deere & Company (NYSE:DE – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,693 shares of the industrial products company’s stock, valued at approximately $6,149,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Key Capital Management INC bought a new stake in Deere & Company in the fourth quarter worth $27,000. Timmons Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $30,000. Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the third quarter valued at $32,000. Finally, Portus Wealth Advisors LLC purchased a new position in shares of Deere & Company in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Analyst Upgrades and Downgrades
DE has been the topic of several recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Oppenheimer reiterated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Citigroup increased their price target on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Robert W. Baird dropped their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $641.98.
Deere & Company Price Performance
NYSE DE opened at $608.73 on Friday. The business’s fifty day moving average price is $603.23 and its 200-day moving average price is $587.77. The stock has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $6.64 EPS. On average, equities analysts predict that Deere & Company will post 18.26 earnings per share for the current year.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.
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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