Northwest & Ethical Investments L.P. Buys Shares of 1,585 Deere & Company $DE

Key Points

• Northwest & Ethical Investments L.P. acquired 1,585 shares of Deere & Company, valued at approximately $743,000, marking a new investment position in the firm.
• Deere reported $4.75 EPS for the last quarter, surpassing analysts' expectations, but experienced a 9% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.62, representing an annual yield of 1.3% with a payout ratio of 33.87%.

Northwest & Ethical Investments L.P. acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,585 shares of the industrial products company's stock, valued at approximately $743,000.

Several other large investors also recently made changes to their positions in the stock. Hughes Financial Services LLC bought a new position in Deere & Company in the first quarter valued at $29,000. Cornerstone Planning Group LLC grew its position in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company in the fourth quarter valued at $39,000. Finally, Citizens National Bank Trust Department bought a new position in Deere & Company in the first quarter valued at $45,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

Deere & Company stock traded up $8.3320 during midday trading on Friday, hitting $495.0920. The company's stock had a trading volume of 1,133,367 shares, compared to its average volume of 1,461,202. Deere & Company has a 1-year low of $374.46 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a 50-day moving average price of $508.58 and a two-hundred day moving average price of $490.43. The company has a market cap of $134.09 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.11 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the company earned $6.29 EPS. The business's revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Barclays increased their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Truist Financial cut their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and an average price target of $523.87.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.