Trinity Legacy Partners LLC Invests $4.16 Million in Deere & Company $DE

Key Points

• Trinity Legacy Partners LLC has invested approximately $4.16 million in Deere & Company by purchasing 8,344 shares, as reported in their recent 13F filing.
• Deere & Company recently declared a quarterly dividend of $1.62 per share, resulting in an annualized yield of 1.3% with a payout ratio of 33.87%.
• Currently, Deere & Company has an average rating of "Moderate Buy" from analysts, with a consensus price target of $523.87.

Trinity Legacy Partners LLC purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,344 shares of the industrial products company's stock, valued at approximately $4,160,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its stake in Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 21 shares during the period. Tyler Stone Wealth Management boosted its position in shares of Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after buying an additional 21 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after buying an additional 22 shares in the last quarter. First Bancorp Inc ME raised its position in Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after buying an additional 23 shares during the period. Finally, Leisure Capital Management lifted its stake in Deere & Company by 0.8% in the 1st quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock worth $1,355,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Bank of America lifted their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Robert W. Baird dropped their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and a consensus price target of $523.87.

Deere & Company Stock Performance

Shares of NYSE DE opened at $495.0920 on Friday. The firm has a market capitalization of $134.09 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.11 and a beta of 1.06. Deere & Company has a one year low of $374.46 and a one year high of $533.78. The business has a fifty day simple moving average of $508.58 and a 200 day simple moving average of $490.43. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the firm posted $6.29 EPS. The business's revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

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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