D.A. Davidson & CO. Acquires 752 Shares of Deere & Company $DE

Key Points

• D.A. Davidson & CO. increased its stake in Deere & Company by 1.0%, acquiring an additional 752 shares during the second quarter, bringing its total holdings to 75,471 shares valued at approximately $38 million.
• Analysts have mixed ratings on Deere & Company, with a consensus price target of $517.35, while recent target price adjustments from firms like JPMorgan and Oppenheimer suggest a cautious outlook.
• The company announced a quarterly dividend of $1.62 per share, yielding 1.4%, which will be paid on November 10th to investors of record as of September 30th.

D.A. Davidson & CO. boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,471 shares of the industrial products company's stock after acquiring an additional 752 shares during the period. D.A. Davidson & CO.'s holdings in Deere & Company were worth $38,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company during the second quarter worth about $25,000. Activest Wealth Management lifted its holdings in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new position in Deere & Company during the first quarter worth about $29,000. Cornerstone Planning Group LLC lifted its holdings in 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 in the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in Deere & Company during the second quarter worth about $38,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Deere & Company from $495.00 to $480.00 and set a "neutral" rating on the stock in a report on Tuesday, October 14th. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. Oppenheimer reduced their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a report on Thursday, September 18th. Wolfe Research cut their price target on Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a report on Friday, October 3rd. Finally, UBS Group set a $535.00 price target on Deere & Company and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $517.35.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $460.01 on Wednesday. The firm has a market cap of $124.35 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The stock's 50-day moving average is $471.43 and its 200-day moving average is $487.92. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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

Deere & Company Dividend Announcement

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

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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