Annex Advisory Services LLC grew its stake in shares of Deere & Company (NYSE:DE - Free Report) by 11,031.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,219 shares of the industrial products company's stock after buying an additional 57,696 shares during the quarter. Annex Advisory Services LLC's holdings in Deere & Company were worth $36,930,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudson Value Partners LLC boosted its holdings in shares of Deere & Company by 9.2% in the 2nd quarter. Hudson Value Partners LLC now owns 9,130 shares of the industrial products company's stock worth $5,792,000 after purchasing an additional 773 shares in the last quarter. Whitener Capital Management Inc. raised its holdings in shares of Deere & Company by 0.6% during the 2nd quarter. Whitener Capital Management Inc. now owns 8,261 shares of the industrial products company's stock valued at $5,240,000 after buying an additional 50 shares in the last quarter. Stonekeep Investments LLC purchased a new position in shares of Deere & Company during the 2nd quarter valued at about $248,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Deere & Company by 65.5% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 682 shares of the industrial products company's stock worth $433,000 after buying an additional 270 shares during the last quarter. Finally, Community Financial Services Group LLC boosted its stake in Deere & Company by 3.1% in the second quarter. Community Financial Services Group LLC now owns 843 shares of the industrial products company's stock worth $529,000 after buying an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
DE has been the topic of several research reports. Raymond James Financial decreased their price target on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, May 22nd. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Truist Financial lifted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Oppenheimer restated an "outperform" rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Finally, Bank of America reduced their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and an average target price of $642.98.
Read Our Latest Stock Report on DE
Deere & Company Stock Performance
NYSE:DE opened at $617.46 on Wednesday. The firm has a market cap of $166.68 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week 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. The business has a 50 day moving average price of $601.70 and a 200-day moving average price of $586.24.
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, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter last year, the business earned $6.64 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current year.
Deere & Company Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is 36.71%.
Deere & Company Company Profile
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Free Report)
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.
See Also
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