Liberty One Investment Management LLC Has $5.96 Million Holdings in Deere & Company $DE

Key Points

• Liberty One Investment Management increased its Deere & Company stake by 31.5% in Q1, buying 2,537 more shares and bringing its total holdings to 10,588 shares worth about $5.96 million.
• Deere’s stock has significant institutional backing, with 68.58% of shares owned by institutions and hedge funds, while analyst sentiment remains broadly positive with a Moderate Buy consensus and an average target price of $642.98.
• The company recently beat quarterly expectations, posting $6.55 EPS on revenue of $13.37 billion, and it also declared a $1.62 quarterly dividend to be paid on August 10.

Liberty One Investment Management LLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,588 shares of the industrial products company's stock after purchasing an additional 2,537 shares during the quarter. Liberty One Investment Management LLC's holdings in Deere & Company were worth $5,964,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Key Capital Management INC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $27,000. Timmons Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter worth about $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. Wealth Watch Advisors INC bought a new stake in Deere & Company in the third quarter valued at approximately $32,000. Finally, Portus Wealth Advisors LLC bought a new stake in Deere & Company in the first quarter valued at approximately $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on DE. Robert W. Baird lowered their price target on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Raymond James Financial decreased their price objective on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, May 22nd. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Sunday, July 5th. Finally, Citigroup boosted their target price on shares of Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $642.98.

Deere & Company Price Performance

Deere & Company stock opened at $610.38 on Friday. The stock has a market capitalization of $164.77 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.56 and a beta of 0.89. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The stock's 50 day moving average price is $583.73 and its two-hundred day moving average price is $575.72. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the firm posted $6.64 EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post 18.27 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 36.71%.

About Deere & Company

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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