Pacific Sage Partners LLC Invests $2.59 Million in Deere & Company $DE

Key Points

• Pacific Sage Partners initiated a $2.59 million position in Deere & Company during the second quarter, purchasing 4,086 shares. Institutional investors collectively own 68.58% of Deere’s outstanding stock.
• Deere reported quarterly EPS of $6.55, exceeding estimates by $0.85, while revenue reached $13.37 billion and increased 5.4% year over year.
• The company pays a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 dividend and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $641.98.

Pacific Sage Partners LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,086 shares of the industrial products company's stock, valued at approximately $2,592,000. Deere & Company makes up 0.4% of Pacific Sage Partners LLC's investment portfolio, making the stock its 25th biggest position.

Several other large investors have also modified their holdings of DE. Brighton Jones LLC grew 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 worth $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in 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 valued at $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC acquired a new stake in Deere & Company during the second quarter valued at approximately $2,153,000. NewEdge Advisors LLC lifted its holdings in Deere & Company by 6.0% during the 2nd 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 lifted its holdings in Deere & Company by 6.7% during the 2nd 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 own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock opened at $608.73 on Friday. 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 business has a 50 day moving average of $603.23 and a two-hundred day moving average of $587.77. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. 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 (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 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%.The business's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $6.64 earnings per share. As a group, analysts anticipate that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company's payout ratio is currently 36.71%.

Wall Street Analyst Weigh In

DE has been the subject of several research reports. Truist Financial lifted their target price on Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Robert W. Baird reduced their price objective on Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a report on Friday. 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 research note on Tuesday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $641.98.

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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