Birmingham Capital Management Co. Inc. AL bought a new position in shares of Deere & Company (NYSE:DE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,262 shares of the industrial products company's stock, valued at approximately $19,830,000. Deere & Company accounts for 7.5% of Birmingham Capital Management Co. Inc. AL's investment portfolio, making the stock its 2nd largest position.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. lifted its holdings in Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock worth $1,056,000 after buying an additional 150 shares during the period. Jump Financial LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $2,153,000. NewEdge Advisors LLC grew its position in shares of Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock worth $9,538,000 after buying an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock worth $789,000 after buying an additional 97 shares during the last quarter. 68.58% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Barclays upped their target price on Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a report on Monday. Truist Financial cut their price target on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a report on Monday. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Citigroup upped their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $653.48.
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Deere & Company Stock Up 0.4%
DE stock opened at $633.36 on Thursday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a market capitalization of $170.97 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. The business's 50 day moving average price is $610.13 and its two-hundred day moving average price is $592.80. 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 released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. During the same quarter last year, the business posted $4.75 EPS. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 18.09 earnings per share for the current fiscal year.
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.
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