2,508 Shares in Deere & Company $DE Purchased by Blue Jean Financial LLC

Key Points

• Blue Jean Financial LLC purchased 2,508 Deere shares during the third quarter, valued at approximately $1.684 million. Institutional investors and hedge funds collectively own 68.58% of Deere’s stock.
• Analysts maintain a positive outlook, with Deere receiving a consensus “Moderate Buy” rating and an average price target of $688.10; several firms recently raised their targets.
• Deere reported quarterly EPS of $5.10, exceeding estimates of $4.69, while revenue rose 6.2% year over year to $12.61 billion. The company also declared a quarterly dividend of $1.62 per share, yielding about 1.0% annually.

Blue Jean Financial LLC purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,508 shares of the industrial products company's stock, valued at approximately $1,684,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Deere & Company during the second quarter valued at $27,000. Kilter Group LLC acquired a new position in Deere & Company during the second quarter valued at $29,000. Solstein Capital LLC purchased a new stake in Deere & Company in the 2nd quarter worth about $30,000. Orion Capital Management LLC purchased a new stake in Deere & Company in the 2nd quarter worth about $32,000. Finally, Downshift Financial LLC lifted its stake in Deere & Company by 218.8% in the 3rd quarter. Downshift Financial LLC now owns 51 shares of the industrial products company's stock worth $34,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DE. Barclays lifted their target price on Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. UBS Group reduced their price target on shares of Deere & Company from $732.00 to $728.00 and set a "buy" rating for the company in a research report on Friday, August 21st. Robert W. Baird raised shares of Deere & Company from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $640.00 to $800.00 in a research report on Monday, August 31st. Nomura upgraded shares of Deere & Company to a "buy" rating in a report on Monday, August 31st. Finally, Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research report on Friday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $688.10.

Deere & Company Stock Performance

Shares of NYSE DE opened at $632.44 on Wednesday. The firm has a market capitalization of $170.52 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.29 and a beta of 0.86. Deere & Company has a one year low of $454.50 and a one year high of $721.22. The business has a fifty day simple moving average of $658.72 and a 200 day simple moving average of $613.10. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. During the same quarter last year, the company earned $4.75 earnings per share. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company's dividend payout ratio (DPR) is 36.00%.

Deere & Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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