USA Financial Formulas Takes Position in Deere & Company $DE

Key Points

• USA Financial Formulas recently acquired a new stake in Deere & Company, purchasing 1,600 shares valued at approximately $814,000.
• Analysts have mixed opinions on Deere's stock, with Melius Research upgrading it to a "strong-buy" rating, while Wall Street Zen downgraded it to a "sell".
• The company reported earnings of $4.75 per share, exceeding consensus estimates, and announced a quarterly dividend of $1.62 per share scheduled for November 10th.

USA Financial Formulas bought a new stake in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,600 shares of the industrial products company's stock, valued at approximately $814,000.

Other institutional investors also recently modified their holdings of the company. Southland Equity Partners LLC boosted its position in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company's stock valued at $271,000 after acquiring an additional 20 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position 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 acquiring an additional 21 shares in the last quarter. Tyler Stone Wealth Management boosted its position in Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after acquiring an additional 21 shares in the last quarter. McLean Asset Management Corp boosted its position in Deere & Company by 4.0% during the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock valued at $283,000 after acquiring an additional 21 shares in the last quarter. Finally, Trilogy Capital Inc. boosted its position in Deere & Company by 1.3% during the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company's stock valued at $860,000 after acquiring an additional 21 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on DE shares. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $518.06.

Deere & Company Price Performance

Shares of DE opened at $451.43 on Thursday. The firm has a market cap of $122.04 billion, a PE ratio of 23.60, a P/E/G ratio of 2.94 and a beta of 1.03. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a fifty day simple moving average of $486.80 and a two-hundred day simple moving average of $489.36. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.29 EPS. On average, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's payout ratio is currently 33.87%.

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.