Global Retirement Partners LLC Takes Position in Deere & Company $DE

Key Points

• Global Retirement Partners purchased 6,133 Deere & Company shares worth approximately $3.89 million during the second quarter. Institutional investors collectively own 68.58% of Deere’s outstanding stock.
• Deere reported quarterly EPS of $6.55, exceeding estimates of $5.70, while revenue rose 5.4% year over year to $13.37 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $641.98, compared with the stock’s reported price of $608.73; Deere also pays a $1.62 quarterly dividend, yielding about 1.1%.

Global Retirement Partners LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 6,133 shares of the industrial products company's stock, valued at approximately $3,890,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. 1ST Source Bank bought a new stake in Deere & Company in the second quarter valued at $3,766,000. Wilkinson Global Asset Management LLC bought a new position in shares of Deere & Company during the 2nd quarter worth about $48,227,000. Lynch Asset Management Inc. acquired a new stake in shares of Deere & Company in the 2nd quarter valued at about $63,000. CORDA Investment Management LLC. acquired a new stake in shares of Deere & Company in the 2nd quarter valued at about $56,126,000. Finally, Silverlake Wealth Management LLC bought a new stake in Deere & Company in the 2nd quarter valued at about $993,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $608.73 on Monday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company's 50 day moving average price is $603.23 and its two-hundred day moving average price is $588.27. The stock has a market cap of $164.32 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.57 and a beta of 0.90. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results 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 analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $6.64 earnings per share. On average, equities analysts predict that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced 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 of this dividend was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DE shares. Citigroup upped their price target on Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Royal Bank Of Canada restated an "outperform" rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Raymond James Financial lowered their target price on Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. cut their target price on Deere & Company from $590.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Oppenheimer reissued an "outperform" rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and a consensus price target 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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