Brasada Capital Management LP Acquires Shares of 1,250 Deere & Company $DE

Key Points

• Brasada Capital Management LP has acquired 1,250 shares of Deere & Company worth approximately $587,000 in the first quarter.
• Deere & Company's quarterly earnings showed earnings per share of $4.75, exceeding consensus estimates, despite a 9.0% decrease in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.62 per share, with a yield of 1.4%, to be paid on November 10th.

Brasada Capital Management LP acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,250 shares of the industrial products company's stock, valued at approximately $587,000.

A number of other hedge funds also recently bought and sold shares of DE. GAMMA Investing LLC raised its holdings in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at about $541,437,000. Nuveen LLC acquired a new stake in shares of Deere & Company during the first quarter valued at about $571,073,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at about $255,686,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $149,057,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE opened at $478.68 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a market capitalization of $129.64 billion, a P/E ratio of 25.02, a P/E/G ratio of 3.15 and a beta of 1.06. The company's fifty day moving average is $505.03 and its two-hundred day moving average is $491.11. Deere & Company has a 1 year low of $376.95 and a 1 year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company's revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.29 EPS. On average, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DE. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Finally, Oppenheimer upped their price target on shares of Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and an average price target of $523.87.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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