8,967 Shares in Deere & Company $DE Bought by Ausdal Financial Partners Inc.

Key Points

• Ausdal Financial Partners purchased 8,967 Deere shares in the second quarter, valued at approximately $5.69 million. Institutional investors and hedge funds collectively own 68.58% of Deere’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $653.48, despite some recent target reductions and one downgrade to “sell.”
• Deere exceeded quarterly expectations, reporting earnings per share of $5.10 versus the $4.69 estimate and revenue of $12.61 billion, up 6.2% year over year.

Ausdal Financial Partners Inc. purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,967 shares of the industrial products company's stock, valued at approximately $5,688,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Deere & Company in the second quarter valued at approximately $27,000. Kilter Group LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $29,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company in the 4th quarter valued at approximately $30,000. Finally, Solstein Capital LLC purchased a new stake in Deere & Company in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial cut their price target on Deere & Company from $812.00 to $804.00 and set a "buy" rating for the company in a report on Monday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday. UBS Group cut their target price on shares of Deere & Company from $732.00 to $728.00 and set a "buy" rating for the company in a research note on Friday, August 21st. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $570.00 to $585.00 and gave the company a "neutral" rating in a report on Friday, August 21st. Finally, Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average price target of $653.48.

Deere & Company Price Performance

Deere & Company stock opened at $633.36 on Thursday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a 50 day moving average price of $610.13 and a 200 day moving average price of $592.80. The company has a market cap of $170.97 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. Deere & Company's revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.75 earnings per share. Sell-side analysts predict that Deere & Company will post 18.09 earnings per share for the current year.

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.

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