Precision Wealth Strategies LLC Makes New Investment in Deere & Company $DE

Key Points

• Precision Wealth Strategies LLC has acquired a new stake in Deere & Company, purchasing 3,852 shares valued at approximately $1,959,000 during the 2nd quarter.
• Deere & Company reported $4.75 earnings per share for the recent quarter, exceeding analyst expectations, but indicated a 9.0% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.62 per share, with a payout ratio of 33.87%, set to be paid on November 10th to investors on record as of September 30th.

Precision Wealth Strategies LLC bought a new stake in Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,852 shares of the industrial products company's stock, valued at approximately $1,959,000.

A number of other institutional investors also recently bought and sold shares of the business. USA Financial Formulas purchased a new position in shares of Deere & Company during the second quarter worth $814,000. Trilogy Capital Inc. increased its position in shares of Deere & Company by 1.3% in the second quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company's stock valued at $860,000 after buying an additional 21 shares in the last quarter. QTR Family Wealth LLC purchased a new stake in Deere & Company in the 2nd quarter worth $213,000. Bartlett & CO. Wealth Management LLC raised its position in shares of Deere & Company by 0.4% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 197,948 shares of the industrial products company's stock worth $100,959,000 after purchasing an additional 722 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in shares of Deere & Company during the second quarter valued at approximately $51,785,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $451.43 on Thursday. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a market capitalization of $122.04 billion, a PE ratio of 23.60, a PEG ratio of 2.94 and a beta of 1.03. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a 50-day simple moving average of $486.80 and a 200-day simple moving average of $489.36.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the company earned $6.29 earnings per share. The firm's revenue was down 9.0% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. Oppenheimer lowered their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a report on Thursday, September 18th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. DA Davidson decreased their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $518.06.

Deere & Company 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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