Brookwood Investment Group LLC Makes New Investment in Deere & Company (NYSE:DE)

Key Points

• Brookwood Investment Group LLC acquired 1,613 shares of Deere & Company, valued at approximately $757,000, during the first quarter.
• Deere & Company announced a quarterly dividend of $1.62 per share, with a dividend yield of 1.25%, set to be paid on August 8th.
• Despite a year-over-year revenue decline of 17.9%, Deere & Company reported better-than-expected quarterly earnings of $6.64 per share, surpassing estimates by $0.92.

Brookwood Investment Group LLC acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,613 shares of the industrial products company's stock, valued at approximately $757,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the first quarter worth about $29,000. Cornerstone Planning Group LLC increased its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the fourth quarter worth about $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter worth about $42,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup decreased their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. BMO Capital Markets restated a "market perform" rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Bank of America lifted their target price on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Deere & Company currently has an average rating of "Hold" and a consensus target price of $515.50.

Deere & Company Price Performance

NYSE:DE traded down $5.15 during midday trading on Monday, hitting $512.23. 277,203 shares of the stock were exchanged, compared to its average volume of 1,340,358. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a market capitalization of $138.73 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 3.28 and a beta of 1.08. The business has a 50-day moving average price of $513.03 and a two-hundred day moving average price of $484.81. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.53 earnings per share. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company's dividend payout ratio is currently 31.35%.

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.