Pandora Wealth Inc. Makes New Investment in Deere & Company (NYSE:DE)

Key Points

• Pandora Wealth Inc. recently acquired 1,620 shares of Deere & Company, valued at approximately $760,000, reflecting a growing institutional interest in the company.
• Deere & Company reported strong quarterly earnings with an EPS of $6.64, surpassing analysts' expectations of $5.72, despite a 17.9% decline in revenue compared to the previous year.
• The company has announced a quarterly dividend of $1.62, equating to an annualized dividend yield of 1.3%, with a payout ratio of 31.35%.

Pandora Wealth Inc. acquired a new position in Deere & Company (NYSE:DE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,620 shares of the industrial products company's stock, valued at approximately $760,000.

A number of other institutional investors have also added to or reduced their stakes in DE. GAMMA Investing LLC grew its position in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after purchasing an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Deere & Company in the 4th quarter worth about $541,437,000. Price T Rowe Associates Inc. MD grew its position in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in Deere & Company in the 4th quarter worth about $255,686,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Deere & Company in the 4th quarter worth about $149,057,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $510.57 on Friday. The stock has a market capitalization of $138.28 billion, a P/E ratio of 24.70, a PEG ratio of 3.21 and a beta of 1.06. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm's 50 day moving average is $512.47 and its 200 day moving average is $489.08. Deere & Company has a 12 month low of $343.38 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the prior year, the company posted $8.53 EPS. Deere & Company's revenue was down 17.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Ratings Changes

A number of brokerages have issued reports on DE. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Oppenheimer boosted their target price on shares of Deere & Company from $555.00 to $560.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Citigroup dropped their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $523.93.

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.

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