Spectrum Financial Alliance Ltd LLC Buys 2,867 Shares of Deere & Company (NYSE:DE)

Key Points

• Spectrum Financial Alliance Ltd LLC increased its holdings in Deere & Company by 5.8%, owning a total of 52,480 shares valued at approximately $24.63 million as of the end of the first quarter.
• Deere & Company reported a quarterly earnings per share of $6.64, exceeding estimates by $0.92, with revenue of $11.17 billion, despite a 17.9% decline year-over-year.
• The company declared a quarterly dividend of $1.62 to be paid on August 8th, reflecting an annualized dividend of $6.48 and a yield of 1.25%.

Spectrum Financial Alliance Ltd LLC raised its holdings in Deere & Company (NYSE:DE - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,480 shares of the industrial products company's stock after acquiring an additional 2,867 shares during the quarter. Deere & Company comprises 8.0% of Spectrum Financial Alliance Ltd LLC's portfolio, making the stock its 6th largest position. Spectrum Financial Alliance Ltd LLC's holdings in Deere & Company were worth $24,632,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Deere & Company by 9.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 409,105 shares of the industrial products company's stock worth $172,732,000 after purchasing an additional 35,074 shares during the period. NEOS Investment Management LLC boosted its position in shares of Deere & Company by 32.9% during the fourth quarter. NEOS Investment Management LLC now owns 16,495 shares of the industrial products company's stock worth $6,989,000 after purchasing an additional 4,081 shares in the last quarter. AssuredPartners Investment Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $579,000. Finally, Providence Capital Advisors LLC increased its position in shares of Deere & Company by 1.0% in the 4th quarter. Providence Capital Advisors LLC now owns 14,336 shares of the industrial products company's stock valued at $6,074,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. DA Davidson reiterated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Raymond James Financial increased their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Morgan Stanley raised their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Finally, Robert W. Baird upped their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $515.50.

Deere & Company Stock Performance

Shares of DE stock traded down $0.75 on Wednesday, reaching $511.76. The stock had a trading volume of 439,814 shares, compared to its average volume of 1,336,402. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm's 50-day moving average is $512.40 and its two-hundred day moving average is $485.72. The firm has a market capitalization of $138.60 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 3.24 and a beta of 1.08. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

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

Deere & Company Dividend Announcement

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

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.