Financial Management Network Inc. Acquires New Shares in Deere & Company $DE

Financial Management Network Inc. acquired a new stake in Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 437 shares of the industrial products company’s stock, valued at approximately $228,000.

A number of other large investors have also made changes to their positions in DE. Chicago Partners Investment Group LLC boosted its position in Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after buying an additional 21 shares in the last quarter. Tyler Stone Wealth Management boosted its position in Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after buying an additional 21 shares in the last quarter. McLean Asset Management Corp boosted its position in Deere & Company by 4.0% in the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after buying an additional 21 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Deere & Company by 2.4% in the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock valued at $434,000 after buying an additional 22 shares in the last quarter. Finally, Hayek Kallen Investment Management boosted its position in Deere & Company by 1.7% in the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company’s stock valued at $610,000 after buying an additional 22 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $468.75 on Thursday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The firm has a fifty day simple moving average of $494.93 and a 200 day simple moving average of $490.02. The company has a market capitalization of $126.72 billion, a PE ratio of 24.50, a P/E/G ratio of 3.01 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced 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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm earned $6.29 earnings per share. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research report on Tuesday, August 19th. Truist Financial cut their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 2nd. DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Finally, Robert W. Baird cut their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $520.87.

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.