Grandfield & Dodd LLC acquired a new position 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 fund acquired 1,439 shares of the industrial products company’s stock, valued at approximately $913,000.
Several other large investors also recently made changes to their positions in DE. Cary Street Partners Financial LLC raised its position in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Baxter Bros Inc. purchased a new stake in shares of Deere & Company in the second quarter worth about $1,707,000. Global Retirement Partners LLC purchased a new stake in shares of Deere & Company in the second quarter worth about $3,890,000. Spectrum Financial Alliance Ltd LLC grew its stake in shares of Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares in the last quarter. Finally, Westpac Banking Corp grew its stake in shares of Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on DE shares. DA Davidson reissued a “buy” rating and set a $685.00 price target on shares of Deere & Company in a research report on Friday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday. Oppenheimer reiterated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Finally, Citigroup raised 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. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $641.98.
Deere & Company Trading Down 1.4%
Shares of DE opened at $600.08 on Tuesday. The company has a market capitalization of $161.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock has a 50-day moving average price of $603.76 and a 200 day moving average price of $588.84.
Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the business earned $6.64 EPS. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 18.26 EPS for the current fiscal year.
Deere & Company Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.
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.
Read More
- Five stocks we like better than Deere & Company
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.
