SFE Investment Counsel acquired a new stake in Deere & Company (NYSE:DE – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 834 shares of the industrial products company’s stock, valued at approximately $529,000.
A number of other institutional investors and hedge funds have also made changes to their positions in DE. Portus Wealth Advisors LLC purchased a new stake in Deere & Company in the 1st quarter worth $32,000. Key Capital Management INC acquired a new position in Deere & Company during the fourth quarter worth $27,000. Timmons Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter valued at $29,000. McIlrath & Eck LLC purchased a new position in Deere & Company during the fourth quarter valued at $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company in the third quarter valued at about $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Stock Performance
NYSE:DE opened at $608.73 on Friday. The company has a market cap of $164.32 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company’s 50-day moving average price is $603.23 and its 200-day moving average price is $587.77. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.
Deere & Company Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. Oppenheimer reissued an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Seaport Research Partners set a $570.00 price objective on Deere & Company in a report on Friday. Citigroup boosted their price objective on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. reduced their target price on Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $641.98.
Check Out Our Latest Research Report on DE
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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