Deroy & Devereaux Private Investment Counsel Inc. Purchases Shares of 625 Deere & Company $DE

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. has acquired a new stake in Deere & Company by purchasing 625 shares valued at approximately $318,000 in the second quarter of the year.
• Several hedge funds have also increased their holdings in Deere & Company, with Mutual Advisors LLC and Generali Asset Management SPA SGR raising their positions significantly by 33.4% and 60.4%, respectively.
• Deere & Company has reported a quarterly EPS of $4.75, exceeding analysts' estimates, although revenue dipped 9% year-over-year, totaling $10.36 billion for the quarter.

Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 625 shares of the industrial products company's stock, valued at approximately $318,000.

Several other hedge funds have also modified their holdings of the company. Mutual Advisors LLC lifted its position in shares of Deere & Company by 33.4% during the second quarter. Mutual Advisors LLC now owns 4,242 shares of the industrial products company's stock valued at $2,195,000 after buying an additional 1,063 shares during the last quarter. Generali Asset Management SPA SGR lifted its position in shares of Deere & Company by 60.4% during the second quarter. Generali Asset Management SPA SGR now owns 21,161 shares of the industrial products company's stock valued at $10,760,000 after buying an additional 7,969 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Deere & Company by 22.6% during the second quarter. Ritholtz Wealth Management now owns 5,649 shares of the industrial products company's stock valued at $2,873,000 after buying an additional 1,043 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Deere & Company by 7.7% during the second quarter. Harbour Investments Inc. now owns 6,484 shares of the industrial products company's stock valued at $3,297,000 after buying an additional 466 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Deere & Company by 1.8% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,632 shares of the industrial products company's stock valued at $2,355,000 after buying an additional 80 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Jefferies Financial Group cut their price objective on shares of Deere & Company from $510.00 to $440.00 and set a "hold" rating on the stock in a report on Wednesday, October 8th. Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a report on Wednesday, October 8th. Citigroup cut their price objective on shares of Deere & Company from $525.00 to $515.00 and set a "neutral" rating on the stock in a report on Tuesday, October 7th. Truist Financial upped their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, Evercore ISI set a $491.00 price objective on shares of Deere & Company in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $511.76.

Deere & Company Price Performance

Shares of NYSE:DE opened at $448.62 on Thursday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company's 50 day moving average is $475.28 and its 200 day moving average is $487.71. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market cap of $121.28 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business's revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the company earned $6.29 EPS. On average, sell-side analysts forecast 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 paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

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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