Graham Capital Management L.P. Purchases 2,150 Shares of Deere & Company $DE

Key Points

• Graham Capital Management L.P. significantly increased its holdings in Deere & Company by 97.7%, purchasing an additional 2,150 shares, bringing its total to 4,350 shares worth $2,042,000.
• Analyst ratings for Deere & Company show a mixed outlook, with target price adjustments including an increase from Oppenheimer to $566 and a downgrade from Robert W. Baird to $488, leading to a consensus rating of "Moderate Buy."
• Deere & Company announced a quarterly dividend of $1.62 per share, which will be paid on November 10th, with a current dividend yield of 1.4%.

Graham Capital Management L.P. boosted its stake in Deere & Company (NYSE:DE - Free Report) by 97.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,350 shares of the industrial products company's stock after purchasing an additional 2,150 shares during the quarter. Graham Capital Management L.P.'s holdings in Deere & Company were worth $2,042,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Retirement Planning Co of New England Inc. raised its stake in Deere & Company by 26.8% in the first quarter. Retirement Planning Co of New England Inc. now owns 1,061 shares of the industrial products company's stock valued at $498,000 after purchasing an additional 224 shares in the last quarter. Caption Management LLC acquired a new position in Deere & Company during the first quarter worth about $751,000. Trace Wealth Advisors LLC raised its stake in Deere & Company by 5.3% during the first quarter. Trace Wealth Advisors LLC now owns 3,160 shares of the industrial products company's stock worth $1,483,000 after acquiring an additional 160 shares in the last quarter. Saudi Central Bank acquired a new position in Deere & Company during the first quarter worth about $48,000. Finally, DRW Securities LLC raised its stake in Deere & Company by 3.8% during the first quarter. DRW Securities LLC now owns 1,145 shares of the industrial products company's stock worth $537,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Barclays boosted their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Oppenheimer upped their price objective on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $520.87.

Deere & Company Trading Down 0.5%

NYSE:DE traded down $2.16 on Friday, reaching $472.74. 1,262,378 shares of the stock traded hands, compared to its average volume of 1,480,224. The firm has a market capitalization of $127.80 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 3.05 and a beta of 1.00. The company's 50 day moving average is $501.32 and its 200-day moving average is $490.88. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1-year low of $378.66 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.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. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio is presently 33.87%.

Deere & 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.