Formuepleje A S Acquires Shares of 4,331 Deere & Company $DE

Formuepleje A S acquired a new position in Deere & Company (NYSE:DEFree Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,331 shares of the industrial products company’s stock, valued at approximately $2,747,000.

Other institutional investors have also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Deere & Company during the 2nd quarter worth about $27,000. Kilter Group LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $29,000. Solstein Capital LLC purchased a new stake in shares of Deere & Company in the second quarter worth about $30,000. Orion Capital Management LLC acquired a new stake in Deere & Company during the second quarter worth about $32,000. Finally, Markowski Investments acquired a new stake in Deere & Company during the second quarter worth about $34,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DE. Evercore raised Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target for the company in a report on Wednesday, September 2nd. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Weiss Ratings lowered shares of Deere & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, August 24th. Finally, DA Davidson raised their price target on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Sixteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $680.73.

Check Out Our Latest Stock Analysis on DE

Deere & Company Price Performance

Shares of Deere & Company stock opened at $692.68 on Monday. The stock has a market capitalization of $186.76 billion, a P/E ratio of 38.48, a PEG ratio of 2.86 and a beta of 0.90. The business has a 50 day simple moving average of $619.13 and a two-hundred day simple moving average of $596.25. Deere & Company has a 12 month low of $433.00 and a 12 month high of $705.88. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same period in the previous year, the company posted $4.75 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, analysts predict that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Deere & Company Profile

(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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