Brooklyn Investment Group Increases Stock Position in Deere & Company $DE

Key Points

• Brooklyn Investment Group increased its stake in Deere & Company by 31.6%, resulting in a total investment worth $1.04 million as of the most recent quarter.
• Analysts have varying opinions on Deere & Company, with most categorizing the stock as a "Hold" and an average target price of $521.47.
• Deere & Company disclosed a quarterly dividend of $1.62 per share, translating to an annualized dividend of $6.48 and a yield of 1.3%.

Brooklyn Investment Group boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 31.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,225 shares of the industrial products company's stock after acquiring an additional 534 shares during the quarter. Brooklyn Investment Group's holdings in Deere & Company were worth $1,044,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hughes Financial Services LLC bought a new stake in shares of Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new stake in shares of Deere & Company in the 4th quarter valued at $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at $42,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.7%

DE traded up $8.3320 during trading on Friday, hitting $495.0920. 1,133,019 shares of the company's stock were exchanged, compared to its average volume of 1,363,902. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business's 50 day moving average is $508.86 and its two-hundred day moving average is $490.28. Deere & Company has a fifty-two week low of $374.46 and a fifty-two week high of $533.78. The stock has a market cap of $134.09 billion, a P/E ratio of 25.88, a PEG ratio of 3.15 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the company posted $6.29 earnings per share. The business's revenue was down 9.0% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's dividend payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DE shares. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Robert W. Baird reduced their price objective on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Truist Financial cut their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $523.87.

Deere & Company 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.