Firetrail Investments PTY Ltd. Takes Position in Deere & Company $DE

Firetrail Investments PTY Ltd. purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,102 shares of the industrial products company's stock, valued at approximately $14,565,000. Deere & Company comprises about 4.1% of Firetrail Investments PTY Ltd.'s investment portfolio, making the stock its 7th biggest position.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in 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 during the period. Schnieders Capital Management LLC. boosted its stake in shares of Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock worth $1,056,000 after buying an additional 150 shares during the period. Jump Financial LLC acquired a new stake in shares of Deere & Company during the second quarter worth about $2,153,000. NewEdge Advisors LLC grew its holdings in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock worth $9,538,000 after buying an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock worth $789,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Robert W. Baird reduced their price objective on Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Oppenheimer reiterated an "outperform" rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Raymond James Financial dropped their target price on Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, May 22nd. Truist Financial upped their price target on Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Finally, DA Davidson reaffirmed a "buy" rating and set a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $641.98.

Deere & Company Price Performance

Shares of NYSE:DE opened at $608.73 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $164.32 billion, a P/E ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a 50-day moving average price of $603.23 and a 200 day moving average price of $588.27.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating 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 analyst estimates of $11.55 billion. During the same quarter in the previous year, the company earned $6.64 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a $1.62 dividend. 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 dividend payout ratio (DPR) 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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