5,937 Shares in Deere & Company $DE Purchased by 1ST Source Bank

Key Points

• 1ST Source Bank purchased 5,937 Deere & Company shares during the second quarter, valued at approximately $3.77 million. Institutional investors collectively own 68.58% of Deere’s stock.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $641.98, although some firms recently lowered or maintained neutral targets.
• Deere reported quarterly EPS of $6.55, exceeding estimates of $5.70, while revenue rose 5.4% year over year to $13.37 billion. The company also pays a quarterly dividend of $1.62 per share, representing a 1.1% yield.

1ST Source Bank bought a new stake in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,937 shares of the industrial products company's stock, valued at approximately $3,766,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Anchyra Partners LLC raised its stake in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after buying an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. boosted its stake in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after buying an additional 17 shares during the last quarter. Advisortrust Partners LLC grew its holdings in Deere & Company by 2.0% during the first 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 grew its holdings in Deere & Company by 0.6% during the fourth 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. raised its position in Deere & Company by 2.4% during 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. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Seaport Research Partners set a $570.00 price target on Deere & Company in a report on Friday. Robert W. Baird dropped their price objective on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Citigroup boosted their target price on shares of Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Sunday, July 5th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $641.98.

Deere & Company Stock Down 0.0%

Deere & Company stock opened at $608.73 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market capitalization of $164.32 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. The business has a 50 day simple moving average of $603.23 and a 200-day simple moving average of $588.27. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last announced 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. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $6.64 EPS. On average, analysts anticipate that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 36.71%.

Deere & Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source