Wilkinson Global Asset Management LLC Makes New $48.23 Million Investment in Deere & Company $DE

Key Points

• Wilkinson Global Asset Management initiated a $48.23 million Deere & Company position in the second quarter, purchasing 76,029 shares; institutional investors collectively own 68.58% of the stock.
• Analysts maintain a “Moderate Buy” consensus, with 14 Buy ratings and nine Holds and an average price target of $641.98, despite some firms lowering their targets.
• Deere exceeded quarterly expectations, reporting $6.55 EPS versus the $5.70 consensus and $13.37 billion in revenue; it also paid a quarterly dividend of $1.62 per share, yielding approximately 1.1% annually.

Wilkinson Global Asset Management LLC bought a new position in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,029 shares of the industrial products company's stock, valued at approximately $48,227,000. Deere & Company accounts for 3.8% of Wilkinson Global Asset Management LLC's holdings, making the stock its 14th largest holding.

A number of other large investors have also modified their holdings of the stock. Brighton Jones LLC lifted its position 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 in the last quarter. Schnieders Capital Management LLC. grew its position in Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock valued at $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $2,153,000. NewEdge Advisors LLC raised its stake in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock valued at $9,538,000 after purchasing an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC raised its stake in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock valued at $789,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DE. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday, July 5th. Robert W. Baird cut their price objective on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Seaport Research Partners set a $570.00 target price on Deere & Company in a research note on Friday. Finally, DA Davidson reaffirmed a "buy" rating and set a $685.00 target price on shares of Deere & Company in a research report on Friday, July 17th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $641.98.

Deere & Company Stock Down 0.0%

DE stock opened at $608.73 on Monday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $164.32 billion, a P/E ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The firm has a 50 day simple moving average of $603.23 and a 200-day simple moving average of $588.27.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.64 earnings per share. On average, equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company's dividend payout ratio is 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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