9,693 Shares in Deere & Company $DE Acquired by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC acquired 9,693 shares of Deere & Company during the second quarter, valued at approximately $6.15 million. Institutional investors collectively own 68.58% of the company.
• Deere reported quarterly earnings of $6.55 per share, exceeding analyst expectations of $5.70, while revenue reached $13.37 billion and increased 5.4% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $641.98 target price versus the stock’s reported $608.73 price. Deere also pays a quarterly dividend of $1.62 per share, yielding about 1.1%.

Focus Partners Advisor Solutions LLC purchased a new position in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,693 shares of the industrial products company's stock, valued at approximately $6,149,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Key Capital Management INC bought a new stake in Deere & Company in the 4th quarter worth $27,000. Timmons Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the third quarter worth about $32,000. Finally, Portus Wealth Advisors LLC purchased a new position in Deere & Company during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 0.6%

DE opened at $608.73 on Friday. The stock has a market cap of $164.32 billion, a PE ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The business has a 50 day moving average of $603.23 and a 200-day moving average of $587.77. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The company 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 firm's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $6.64 earnings per share. Equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. 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%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DE. Royal Bank Of Canada reiterated an "outperform" rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Robert W. Baird cut their price target on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research report on Friday. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Sunday, July 5th. Finally, Truist Financial lifted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $641.98.

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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