Pure Financial Advisors LLC Invests $565,000 in Deere & Company $DE

Key Points

• Pure Financial Advisors LLC invested approximately $565,000 in Deere & Company, acquiring 1,111 shares during the 2nd quarter.
• Deere & Company reported earnings per share of $4.75, exceeding analyst expectations, despite a 9% decline in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $1.62 per share, with an expected annualized yield of 1.4%.

Pure Financial Advisors LLC acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,111 shares of the industrial products company's stock, valued at approximately $565,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after buying an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after buying an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company's stock valued at $852,254,000 after buying an additional 35,075 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Deere & Company by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock valued at $727,046,000 after buying an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock valued at $635,150,000 after buying an additional 256,806 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

DE stock opened at $462.59 on Friday. The company has a fifty day moving average price of $484.64 and a 200-day moving average price of $489.09. The company has a market capitalization of $125.05 billion, a P/E ratio of 24.18, a PEG ratio of 2.97 and a beta of 1.02. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping 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 company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the company posted $6.29 earnings per share. Deere & Company's revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on DE shares. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 2nd. Robert W. Baird decreased their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Truist Financial decreased their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a research report on Saturday, September 27th. Finally, Evercore ISI set a $491.00 target price on shares of Deere & Company in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $518.18.

About Deere & Company

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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