2,691 Shares in Deere & Company $DE Bought by Baxter Bros Inc.

Key Points

• Baxter Bros Inc. purchased 2,691 Deere & Company shares in the second quarter, valued at approximately $1.7 million. Institutional investors collectively own 68.58% of Deere’s stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and nine Holds. Deere has a “Moderate Buy” consensus rating and an average price target of $641.98.
• Deere reported quarterly EPS of $6.55, beating estimates of $5.70, while revenue rose 5.4% year over year to $13.37 billion. The company also paid a quarterly dividend of $1.62 per share, equal to a 1.1% annual yield.

Baxter Bros Inc. purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,691 shares of the industrial products company's stock, valued at approximately $1,707,000.

Several other hedge funds also recently added to or reduced their stakes in DE. Anchyra Partners LLC boosted its position in shares of Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock worth $1,797,000 after buying an additional 17 shares during the period. William B. Walkup & Associates Inc. lifted its position in Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after acquiring an additional 17 shares in the last quarter. Advisortrust Partners LLC boosted its holdings in Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company's stock worth $515,000 after acquiring an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its holdings in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after acquiring an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its position in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after acquiring an additional 19 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Citigroup lifted their price target on shares of Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Raymond James Financial cut their price objective on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, May 22nd. Bank of America decreased their price objective on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Finally, Seaport Research Partners set a $570.00 target price on Deere & Company in a research report on Friday. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $641.98.

Deere & Company Price Performance

DE opened at $608.73 on Monday. The company has a 50-day moving average of $603.23 and a 200-day moving average of $588.27. The company has a market capitalization of $164.32 billion, a P/E ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the business posted $6.64 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company's payout ratio is 36.71%.

Deere & Company Profile

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.

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