Compass Capital Management Inc. Acquires New Position in Deere & Company $DE

Key Points

• Compass Capital Management acquired 19,957 Deere & Company shares during the second quarter, valued at approximately $12.7 million. Institutional investors collectively own 68.58% of Deere’s outstanding stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and nine Holds; Deere has a “Moderate Buy” consensus rating and an average price target of $641.98.
• Deere exceeded quarterly expectations with $6.55 in earnings per share and $13.37 billion in revenue, while revenue rose 5.4% year over year. The company also paid a quarterly dividend of $1.62 per share, representing a 1.1% yield.

Compass Capital Management Inc. bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 19,957 shares of the industrial products company's stock, valued at approximately $12,659,000.

A number of other large investors have also modified their holdings of DE. Insight Wealth Partners LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $297,000. Roman Butler Fullerton & Co. purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $1,211,000. Simplicity Wealth LLC acquired a new position in Deere & Company during the second quarter worth $8,118,000. Baxter Bros Inc. acquired a new position in Deere & Company during the second quarter worth $1,707,000. Finally, Uniting Wealth Partners LLC purchased a new position in Deere & Company in the second quarter worth $319,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on DE. Seaport Research Partners set a $570.00 target price on Deere & Company in a report on Friday. Oppenheimer reaffirmed an "outperform" rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. DA Davidson reiterated a "buy" rating and issued a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. 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 MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and an average price target of $641.98.

Deere & Company Trading Down 0.0%

Shares of Deere & Company stock opened at $608.73 on Monday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The business has a 50 day moving average price of $603.23 and a 200 day moving average price of $588.27. The company has a market capitalization of $164.32 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.57 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.64 EPS. Sell-side analysts anticipate that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company's dividend payout ratio is currently 36.71%.

Deere & Company Company Profile

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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