RW Investment Management LLC Buys New Shares in Deere & Company $DE

Key Points

• RW Investment Management purchased 3,735 Deere & Company shares worth approximately $2.37 million, making DE its 17th-largest holding at 0.2% of the portfolio. Institutional investors collectively own 68.58% of the stock.
• Deere reported quarterly EPS of $6.55, beating estimates of $5.70, while revenue rose 5.4% year over year to $13.37 billion. Analysts project full-year EPS of $18.26.
• The company maintains a quarterly dividend of $1.62, or $6.48 annualized, yielding about 1.1%. Analysts have a consensus “Moderate Buy” rating and an average price target of $641.98, compared with a recent price of $608.73.

RW Investment Management LLC purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,735 shares of the industrial products company's stock, valued at approximately $2,369,000. Deere & Company makes up 0.2% of RW Investment Management LLC's investment portfolio, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $29,000. McIlrath & Eck LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $30,000. Portus Wealth Advisors LLC purchased a new stake in Deere & Company in the first quarter worth approximately $32,000. Wealth Watch Advisors INC purchased a new stake in Deere & Company in the third quarter worth approximately $32,000. Finally, SHP Wealth Management bought a new position in Deere & Company during the fourth quarter valued at approximately $33,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $608.73 on Monday. The firm has a market cap of $164.32 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The business has a 50 day moving average price of $603.23 and a 200-day moving average price of $588.27.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (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 firm had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter last year, the business earned $6.64 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were 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 of this dividend was Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is 36.71%.

Analyst Ratings Changes

DE has been the topic of several research reports. Raymond James Financial decreased their price target on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, May 22nd. Robert W. Baird reduced their target price on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Truist Financial lifted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Finally, Citigroup raised their price objective on Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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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