Graham Capital Management L.P. Has $2.04 Million Stock Holdings in Deere & Company $DE

Graham Capital Management L.P. grew its position in shares of Deere & Company (NYSE:DE) by 97.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,350 shares of the industrial products company’s stock after purchasing an additional 2,150 shares during the quarter. Graham Capital Management L.P.’s holdings in Deere & Company were worth $2,042,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. boosted its stake in shares of Deere & Company by 26.8% during the first quarter. Retirement Planning Co of New England Inc. now owns 1,061 shares of the industrial products company’s stock valued at $498,000 after purchasing an additional 224 shares in the last quarter. Caption Management LLC acquired a new stake in shares of Deere & Company during the first quarter valued at about $751,000. Trace Wealth Advisors LLC boosted its stake in shares of Deere & Company by 5.3% during the first quarter. Trace Wealth Advisors LLC now owns 3,160 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 160 shares in the last quarter. Saudi Central Bank bought a new position in shares of Deere & Company during the first quarter worth about $48,000. Finally, DRW Securities LLC raised its position in shares of Deere & Company by 3.8% during the first quarter. DRW Securities LLC now owns 1,145 shares of the industrial products company’s stock worth $537,000 after acquiring an additional 42 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. BMO Capital Markets restated a “market perform” rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Citigroup lowered their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Finally, Robert W. Baird lowered their price objective on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $523.87.

Deere & Company Trading Down 2.6%

Shares of DE stock opened at $478.68 on Tuesday. The company has a market cap of $129.40 billion, a P/E ratio of 25.02, a PEG ratio of 3.07 and a beta of 1.00. The stock has a 50 day simple moving average of $504.33 and a two-hundred day simple moving average of $491.37. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a fifty-two week low of $376.95 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.29 earnings per share. Research analysts forecast 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 Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

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.