Deere & Company $DE Shares Bought by SeaBridge Investment Advisors LLC

Key Points

• SeaBridge Investment Advisors LLC increased its stake in Deere & Company by 41.1% in the second quarter, owning a total of 7,836 shares valued at approximately $3.985 million.
• Deere & Company's recent earnings report showed $4.75 earnings per share, exceeding expectations, although revenue fell by 9.0% year-over-year.
• The company announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, to be paid on November 10th.

SeaBridge Investment Advisors LLC raised its position in Deere & Company (NYSE:DE - Free Report) by 41.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,836 shares of the industrial products company's stock after acquiring an additional 2,281 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Deere & Company were worth $3,985,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management grew its position in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $38,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $39,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock opened at $463.93 on Friday. The business has a 50 day moving average price of $489.67 and a 200 day moving average price of $489.66. The stock has a market cap of $125.41 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 3.00 and a beta of 1.00. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

DE has been the subject of several recent research reports. Robert W. Baird decreased their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Oppenheimer decreased their price objective on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Citigroup decreased their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and a consensus price target of $518.06.

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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