Beacon Pointe Advisors LLC purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,651 shares of the industrial products company's stock, valued at approximately $11,832,000.
A number of other large investors have also modified their holdings of DE. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Deere & Company during the second quarter worth $27,000. Kilter Group LLC purchased a new stake in Deere & Company during the 2nd quarter worth about $29,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at about $30,000. Finally, Solstein Capital LLC purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Price Performance
Shares of NYSE:DE opened at $630.66 on Friday. The firm has a market capitalization of $170.24 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The business's 50 day simple moving average is $611.59 and its 200-day simple moving average is $593.34. 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 released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.75 EPS. As a group, equities analysts forecast that Deere & Company will post 18.11 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company's payout ratio is currently 36.00%.
Analyst Ratings Changes
Several research firms recently weighed in on DE. Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a research note on Tuesday, August 18th. Bank of America dropped their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. UBS Group cut their price objective on shares of Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a report on Friday, August 21st. Barclays upped their target price on shares of Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a report on Monday. Finally, Truist Financial dropped their target price on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a research report on Monday. Fourteen equities 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, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $653.48.
View Our Latest Stock Report on DE
Deere & Company Profile
(
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.
Recommended Stories
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).
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.
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
