Deere & Company $DE Shares Bought by Lowe Brockenbrough & Co. Inc.

Key Points

• Lowe Brockenbrough & Co. Inc. increased its Deere & Company stake by 58.9% in the fourth quarter, bringing holdings to 4,785 shares worth about $2.23 million.
• Deere reported better-than-expected quarterly results, posting EPS of $6.55 versus estimates of $5.70 and revenue of $13.37 billion, above the $11.55 billion consensus.
• The company also announced a quarterly dividend of $1.62 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $639.58.

Lowe Brockenbrough & Co. Inc. boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 58.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,785 shares of the industrial products company's stock after buying an additional 1,774 shares during the quarter. Lowe Brockenbrough & Co. Inc.'s holdings in Deere & Company were worth $2,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cerro Pacific Wealth Advisors LLC lifted its stake in shares of Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after buying an additional 19 shares during the period. Root Financial Partners LLC lifted its stake in shares of Deere & Company by 2.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock valued at $410,000 after buying an additional 19 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Deere & Company by 2.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company's stock valued at $360,000 after buying an additional 20 shares during the period. Finally, Family Legacy Inc. lifted its stake in shares of Deere & Company by 0.3% during the fourth quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company's stock valued at $3,675,000 after buying an additional 20 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $583.80 on Friday. The company's fifty day simple moving average is $572.86 and its 200-day simple moving average is $545.60. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market cap of $157.59 billion, a PE ratio of 33.08, a P/E/G ratio of 2.20 and a beta of 0.92.

Deere & Company (NYSE:DE - Get Free Report) last issued 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. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the firm posted $6.64 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Analyst Ratings Changes

Several equities analysts recently issued reports on DE shares. Sanford C. Bernstein upped their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a research note on Friday, February 20th. Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Wells Fargo & Company increased their price target on shares of Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a research note on Friday, February 20th. Finally, Bank of America cut their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $639.58.

Deere & 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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