SLT Holdings LLC Makes New Investment in Deere & Company (NYSE:DE)

Key Points

• SLT Holdings LLC has acquired 523 shares of Deere & Company, marking a new investment valued at approximately $245,000 during the first quarter.
• Deere & Company reported a strong quarterly earnings of $6.64 EPS, significantly beating analysts' expectations of $5.72, despite a 17.9% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.62, with an annualized yield of 1.27%, reflecting a payout ratio of 31.35%.

SLT Holdings LLC bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 523 shares of the industrial products company's stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $11,104,000. Physicians Financial Services Inc. increased its stake in Deere & Company by 2.0% during the 1st quarter. Physicians Financial Services Inc. now owns 5,164 shares of the industrial products company's stock worth $2,424,000 after acquiring an additional 100 shares during the period. New Republic Capital LLC raised its holdings in Deere & Company by 0.5% in the 1st quarter. New Republic Capital LLC now owns 7,270 shares of the industrial products company's stock valued at $3,412,000 after acquiring an additional 39 shares in the last quarter. AGP Franklin LLC lifted its position in shares of Deere & Company by 6.6% during the 1st quarter. AGP Franklin LLC now owns 1,370 shares of the industrial products company's stock valued at $632,000 after acquiring an additional 85 shares during the period. Finally, Norden Group LLC lifted its position in shares of Deere & Company by 9.3% during the 1st quarter. Norden Group LLC now owns 866 shares of the industrial products company's stock valued at $406,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Down 1.3%

NYSE:DE opened at $510.87 on Tuesday. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a market cap of $138.36 billion, a PE ratio of 24.72, a P/E/G ratio of 3.28 and a beta of 1.08. The firm's 50 day simple moving average is $512.66 and its 200 day simple moving average is $485.53.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping 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 analyst estimates of $10.80 billion. During the same quarter in the previous year, the business earned $8.53 earnings per share. Deere & Company's revenue was down 17.9% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DE shares. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Raymond James Financial raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Truist Financial increased their price target 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. Finally, Robert W. Baird boosted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and an average target price of $515.50.

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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