Everett Harris & Co. CA Purchases New Shares in Deere & Company $DE

Key Points

• Everett Harris & Co. CA initiated a Deere & Company position by purchasing 2,183 shares worth approximately $1.385 million in the second quarter. Institutional investors collectively own 68.58% of Deere’s outstanding stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and nine Hold ratings; the stock has an overall “Moderate Buy” consensus and an average price target of $641.98.
• Deere reported quarterly EPS of $6.55, exceeding expectations of $5.70, while revenue reached $13.37 billion and rose 5.4% year over year. The company also paid a quarterly dividend of $1.62 per share, equivalent to a 1.1% yield.

Everett Harris & Co. CA purchased a new position in Deere & Company (NYSE:DE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,183 shares of the industrial products company's stock, valued at approximately $1,385,000.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Summit Global Investments bought a new position in Deere & Company during the second quarter valued at $458,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Deere & Company in the 2nd quarter worth about $4,234,000. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth about $575,000. Cornerstone Capital Inc. purchased a new position in shares of Deere & Company during the 2nd quarter worth about $318,000. Finally, First Community Trust NA boosted its stake in shares of Deere & Company by 1.6% during the 2nd quarter. First Community Trust NA now owns 14,295 shares of the industrial products company's stock worth $9,068,000 after purchasing an additional 226 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DE. Bank of America reduced their price objective on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. DA Davidson restated a "buy" rating and set a $685.00 target price on shares of Deere & Company in a research report on Friday, July 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Finally, Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and an average price target of $641.98.

Deere & Company Trading Down 0.6%

DE stock opened at $608.73 on Friday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm's 50-day moving average is $603.23 and its 200 day moving average is $587.77. The company has a market capitalization of $164.32 billion, a PE ratio of 34.49, a P/E/G ratio of 2.59 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts' expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $6.64 EPS. On average, research analysts anticipate that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company's payout ratio is currently 36.71%.

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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