Leisure Capital Management Raises Stock Position in Deere & Company (NYSE:DE)

Leisure Capital Management raised its stake in shares of Deere & Company (NYSE:DE) by 0.8% during the first quarter, Holdings Channel reports. The firm owned 2,886 shares of the industrial products company’s stock after buying an additional 23 shares during the quarter. Leisure Capital Management’s holdings in Deere & Company were worth $1,355,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the 1st quarter worth $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company during the 4th quarter valued at $39,000. Finally, Dogwood Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter valued at $42,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $511.13 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm has a fifty day simple moving average of $512.28 and a 200-day simple moving average of $488.12. The company has a market capitalization of $138.43 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $8.53 EPS. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 annualized dividend and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DE shares. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Citigroup reduced their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Morgan Stanley increased their target price on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Raymond James Financial increased their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, Oppenheimer increased their target price on shares of Deere & Company from $555.00 to $560.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $515.50.

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.