DMKC Advisory Services LLC Increases Stake in Deere & Company $DE

Key Points

• DMKC Advisory Services LLC increased its stake in Deere & Company by 199.1% during the 2nd quarter, making it the firm's 4th largest position with holdings valued at approximately $6.5 million.
• Deere & Company announced a quarterly dividend of $1.62, which will be paid on November 10th, representing an annualized yield of 1.4%.
• The company's shares recently opened at $451.43 and reported earnings of $4.75 EPS, surpassing expectations despite a 9% revenue decline compared to the previous year.

DMKC Advisory Services LLC lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 199.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,039 shares of the industrial products company's stock after purchasing an additional 8,680 shares during the period. Deere & Company accounts for about 3.4% of DMKC Advisory Services LLC's portfolio, making the stock its 4th largest position. DMKC Advisory Services LLC's holdings in Deere & Company were worth $6,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Deere & Company by 5.5% in the 1st quarter. Merit Financial Group LLC now owns 8,928 shares of the industrial products company's stock valued at $4,191,000 after purchasing an additional 464 shares during the period. ST Germain D J Co. Inc. lifted its stake in shares of Deere & Company by 2.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 3,595 shares of the industrial products company's stock valued at $1,687,000 after purchasing an additional 71 shares during the period. RFG Advisory LLC increased its holdings in Deere & Company by 0.8% in the first quarter. RFG Advisory LLC now owns 3,701 shares of the industrial products company's stock valued at $1,737,000 after purchasing an additional 30 shares during the last quarter. Finally, CGN Advisors LLC bought a new stake in Deere & Company in the first quarter valued at about $415,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DE shares. Truist Financial dropped their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird cut their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $518.06.

Deere & Company Stock Down 1.3%

Shares of DE stock opened at $451.43 on Thursday. The firm has a fifty day moving average of $486.80 and a 200-day moving average of $489.36. 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 has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a market capitalization of $122.04 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 2.94 and a beta of 1.03.

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

Deere & Company Announces Dividend

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

Deere & Company Company Profile

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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