Towneley Capital Management Inc DE Makes New Investment in Deere & Company (NYSE:DE)

Towneley Capital Management Inc DE acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 527 shares of the industrial products company's stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Brighton Jones LLC lifted its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in shares of Deere & Company by 4.2% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 961 shares of the industrial products company's stock valued at $407,000 after purchasing an additional 39 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company's stock valued at $426,000 after purchasing an additional 22 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Deere & Company by 1.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,346 shares of the industrial products company's stock valued at $1,841,000 after buying an additional 70 shares during the period. Finally, YANKCOM Partnership purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DE shares. JPMorgan Chase & Co. raised their target price on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets restated a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Oppenheimer lifted their price objective on Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Citigroup dropped their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $515.19.

Deere & Company Stock Down 1.2%

Shares of Deere & Company stock traded down $6.27 during trading on Tuesday, reaching $515.42. The stock had a trading volume of 1,294,039 shares, compared to its average volume of 1,397,831. The company has a market capitalization of $139.59 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 2.14 and a beta of 1.09. The stock has a fifty day moving average price of $481.59 and a two-hundred day moving average price of $467.44. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last released 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. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the previous year, the business earned $8.53 earnings per share. Deere & Company's quarterly revenue was down 17.9% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced 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. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is 31.35%.

Deere & 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.