Stableford Capital II LLC acquired a new position in shares of Deere & Company (NYSE:DE – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,488 shares of the industrial products company’s stock, valued at approximately $944,000.
Other institutional investors also recently modified their holdings of the company. Cary Street Partners Financial LLC grew its holdings in shares of Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 1,086 shares in the last quarter. Baxter Bros Inc. bought a new stake in Deere & Company during the second quarter worth about $1,707,000. Global Retirement Partners LLC acquired a new stake in Deere & Company during the second quarter worth about $3,890,000. Westpac Banking Corp increased its holdings in Deere & Company by 78.6% in the 4th 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 during the period. Finally, TRB Wealth Management LLC bought a new position in Deere & Company in the 2nd quarter valued at about $623,000. Institutional investors own 68.58% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, August 24th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. JPMorgan Chase & Co. upped their target price on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Oppenheimer raised their target price on Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. Finally, Truist Financial decreased their price target on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research note on Monday, August 24th. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $680.73.
Deere & Company Stock Performance
Shares of Deere & Company stock opened at $680.72 on Wednesday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week 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. The firm has a market capitalization of $183.54 billion, a P/E ratio of 37.82, a P/E/G ratio of 2.86 and a beta of 0.90. The company’s 50 day moving average price is $621.37 and its two-hundred day moving average price is $597.52.
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the prior year, the business earned $4.75 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 18.12 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.
Deere & Company Company Profile
Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.
Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.
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