Family Legacy Inc. Takes Position in Deere & Company $DE

Key Points

• Family Legacy Inc. purchased 7,691 Deere shares worth approximately $4.88 million during the second quarter, making Deere its 28th-largest holding and about 1.3% of its portfolio.
• Deere reported quarterly EPS of $6.55, exceeding estimates of $5.70, while revenue rose 5.4% year over year to $13.37 billion. The company also pays a quarterly dividend of $1.62 per share, yielding roughly 1.1% annually.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $641.98, though several firms recently lowered their targets. Institutional investors own 68.58% of Deere, whose shares recently traded near $608.73.

Family Legacy Inc. purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,691 shares of the industrial products company's stock, valued at approximately $4,879,000. Deere & Company accounts for about 1.3% of Family Legacy Inc.'s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Anchyra Partners LLC increased its position in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock worth $1,797,000 after acquiring an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. lifted its position in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock valued at $1,638,000 after acquiring an additional 17 shares in the last quarter. Advisortrust Partners LLC lifted its position in Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company's stock valued at $515,000 after acquiring an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after purchasing an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 0.6%

Shares of Deere & Company stock opened at $608.73 on Friday. The company's 50-day moving average price is $603.23 and its 200-day moving average price is $587.77. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company 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 business posted $6.64 earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DE shares. JPMorgan Chase & Co. decreased their price target on Deere & Company from $590.00 to $570.00 and set a "neutral" rating for the company in a report on Friday. DA Davidson restated a "buy" rating and set a $685.00 price objective on shares of Deere & Company in a research note on Friday, July 17th. Robert W. Baird reduced their target price on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Finally, Citigroup raised their price target on shares of Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $641.98.

Deere & Company 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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