Deere & Company $DE Holdings Raised by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its holdings in Deere & Company by 28.8% in Q1, now owning approximately 0.06% of the company valued at $80.7 million.
• Deere & Company reported a Q2 earnings per share of $4.75, surpassing analyst expectations of $4.62, though quarterly revenue decreased by 9% year-over-year.
• The company declared a quarterly dividend of $1.62 per share, scheduled for distribution on November 10, reflecting an annualized yield of 1.4%.

Jones Financial Companies Lllp grew its position in Deere & Company (NYSE:DE - Free Report) by 28.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,049 shares of the industrial products company's stock after acquiring an additional 38,656 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.06% of Deere & Company worth $80,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after acquiring an additional 798 shares during the last quarter. Providence Capital Advisors LLC increased its holdings in shares of Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after acquiring an additional 303 shares during the last quarter. Bragg Financial Advisors Inc increased its holdings in shares of Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after acquiring an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company in the 1st quarter valued at approximately $13,588,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 1.1%

Shares of DE stock opened at $471.35 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. Deere & Company has a 1 year low of $386.42 and a 1 year high of $533.78. The stock has a fifty day moving average of $497.38 and a two-hundred day moving average of $490.32. The firm has a market capitalization of $127.42 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the firm posted $6.29 EPS. The firm's quarterly revenue was down 9.0% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday. Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. BMO Capital Markets restated a "market perform" rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

About Deere & Company

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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