River Street Advisors LLC Increases Holdings in Deere & Company (NYSE:DE)

River Street Advisors LLC increased its stake in Deere & Company (NYSE:DE) by 5.3% in the 1st quarter, HoldingsChannel reports. The fund owned 1,896 shares of the industrial products company’s stock after acquiring an additional 95 shares during the period. River Street Advisors LLC’s holdings in Deere & Company were worth $890,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DE. Assenagon Asset Management S.A. increased its position in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after purchasing an additional 5,053 shares during the last quarter. Spectrum Financial Alliance Ltd LLC boosted its stake in Deere & Company by 2.9% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after buying an additional 1,407 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Deere & Company during the fourth quarter worth $847,000. BankPlus Trust Department purchased a new stake in shares of Deere & Company in the fourth quarter valued at $1,127,000. Finally, Stenger Family Office LLC purchased a new position in shares of Deere & Company during the 4th quarter worth about $3,144,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James Financial upped their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Evercore ISI upped their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. One research 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 company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

Shares of NYSE DE opened at $525.02 on Friday. The business’s 50 day moving average price is $493.91 and its 200 day moving average price is $470.14. The firm has a market cap of $142.19 billion, a P/E ratio of 25.40, a P/E/G ratio of 3.33 and a beta of 1.09. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion during 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%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the business posted $8.53 EPS. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.23%. Deere & Company’s dividend payout ratio is presently 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.