Oliver Lagore Vanvalin Investment Group Makes New $1.15 Million Investment in Deere & Company $DE

Key Points

• Oliver Lagore Vanvalin Investment Group has acquired a new stake in Deere & Company, purchasing 2,449 shares valued at approximately $1,150,000 during the second quarter.
• Deere & Company reported $4.75 earnings per share for the last quarter, exceeding estimates, with a revenue of $10.36 billion, though down 9.0% from the same period last year.
• The firm has declared a quarterly dividend of $1.62 per share, with the dividend yield currently at 1.4%, set to be paid on November 10th.

Oliver Lagore Vanvalin Investment Group bought a new stake in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,449 shares of the industrial products company's stock, valued at approximately $1,150,000.

A number of other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. Woodline Partners LP bought a new stake in Deere & Company during the fourth quarter valued at $6,475,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Deere & Company by 13.9% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 49,772 shares of the industrial products company's stock valued at $21,088,000 after buying an additional 6,086 shares during the period. Novem Group bought a new stake in Deere & Company during the fourth quarter valued at $327,000. Finally, Orion Capital Management LLC purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $34,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on DE shares. Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. JPMorgan Chase & Co. reduced their target price on Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a report on Tuesday, September 2nd. Truist Financial reduced their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Finally, Oppenheimer dropped their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $517.27.

Deere & Company Stock Performance

DE traded up $0.43 during mid-day trading on Tuesday, reaching $469.46. 280,868 shares of the company traded hands, compared to its average volume of 1,371,738. The stock has a market capitalization of $126.91 billion, a P/E ratio of 24.54, a P/E/G ratio of 3.02 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company's fifty day moving average price is $492.45 and its 200-day moving average price is $490.16. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

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

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio is 33.87%.

Deere & 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.