Deere & Company $DE Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Deere & Company stake by 11.8% in the second quarter, bringing its holdings to 43,459 shares valued at approximately $27.6 million. Institutional investors collectively own 68.58% of the company.
• Deere reported quarterly earnings of $5.10 per share, beating estimates by $0.41, while revenue rose 6.2% year over year to $12.61 billion.
• The company declared a quarterly dividend of $1.62 per share, equivalent to a 1.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $680.73.

NewEdge Advisors LLC increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,459 shares of the industrial products company's stock after buying an additional 4,586 shares during the quarter. NewEdge Advisors LLC's holdings in Deere & Company were worth $27,567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Deere & Company during the 2nd quarter worth about $27,000. Kilter Group LLC acquired a new position in shares of Deere & Company in the second quarter valued at about $29,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at about $29,000. Solstein Capital LLC acquired a new position in shares of Deere & Company in the second quarter valued at about $30,000. Finally, Portus Wealth Advisors LLC purchased a new position in shares of Deere & Company in the first quarter worth about $32,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 0.5%

Shares of DE opened at $677.52 on Thursday. The company has a market capitalization of $182.67 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.81 and a beta of 0.90. Deere & Company has a 52 week low of $433.00 and a 52 week high of $705.88. The stock's 50-day moving average price is $622.35 and its 200-day moving average price is $597.71. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. During the same period last year, the business earned $4.75 earnings per share. Deere & Company's quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company's payout ratio is 36.00%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group decreased their target price on Deere & Company from $732.00 to $728.00 and set a "buy" rating for the company in a report on Friday, August 21st. Oppenheimer raised their price target on shares of Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Weiss Ratings downgraded shares of Deere & Company from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, September 2nd. 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, August 24th. Sixteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of "Moderate Buy" and an average price target of $680.73.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.

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