Juno Financial Group LLC Makes New Investment in Deere & Company $DE

Key Points

• Juno Financial Group LLC initiated a new position in Deere & Company (DE), purchasing 8,876 shares worth about $4.13 million, which represents roughly 1.7% of Juno’s portfolio and is its 15th-largest holding.
• Deere topped expectations in the quarter with $2.42 EPS vs. $1.90 expected and revenue of $9.61 billion (up 17.5% YoY vs. $7.50B est.), and analysts project about 18 EPS for the current year.
• Deere announced a quarterly dividend of $1.62 ($6.48 annualized, ~1.1% yield; ex-dividend Mar 31), while several firms lifted price targets (Wells Fargo to $750, BofA to $672, Barclays to $640) and the consensus rating is a “Moderate Buy” with an average target of $655.45.

Juno Financial Group LLC purchased a new position in Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,876 shares of the industrial products company's stock, valued at approximately $4,133,000. Deere & Company makes up approximately 1.7% of Juno Financial Group LLC's portfolio, making the stock its 15th largest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Csenge Advisory Group raised its position in Deere & Company by 84.9% in the 3rd quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company's stock valued at $3,402,000 after buying an additional 3,416 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in Deere & Company by 66.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company's stock worth $12,606,000 after acquiring an additional 10,974 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in Deere & Company by 263.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company's stock worth $7,942,000 after acquiring an additional 12,551 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Deere & Company by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company's stock worth $9,682,000 after acquiring an additional 2,702 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Deere & Company by 2.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 110,328 shares of the industrial products company's stock worth $50,449,000 after acquiring an additional 2,373 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $580.27 on Thursday. The business's fifty day simple moving average is $594.50 and its 200 day simple moving average is $524.44. The firm has a market capitalization of $156.74 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 2.05 and a beta of 0.98. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period last year, the company posted $3.19 earnings per share. Deere & Company's quarterly revenue was up 17.5% compared to the same quarter last year. As a group, analysts anticipate that Deere & Company will post 18 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 36.53%.

Analyst Ratings Changes

A number of research firms have issued reports on DE. Bank of America lifted their price objective on shares of Deere & Company from $502.00 to $672.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. Wells Fargo & Company lifted their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a report on Friday, February 20th. Barclays lifted their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Oppenheimer reiterated an "outperform" rating and set a $715.00 price target on shares of Deere & Company in a report on Friday, February 20th. Finally, Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and a consensus price target of $655.45.

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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