Joel Isaacson & Co. LLC Boosts Position in Deere & Company $DE

Joel Isaacson & Co. LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,438 shares of the industrial products company’s stock after buying an additional 101 shares during the period. Joel Isaacson & Co. LLC’s holdings in Deere & Company were worth $731,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Slow Capital Inc. increased its stake in shares of Deere & Company by 2.4% during the second quarter. Slow Capital Inc. now owns 14,739 shares of the industrial products company’s stock valued at $7,499,000 after buying an additional 340 shares during the period. Roundview Capital LLC lifted its position in Deere & Company by 4.8% during the second quarter. Roundview Capital LLC now owns 3,998 shares of the industrial products company’s stock valued at $2,033,000 after buying an additional 184 shares during the period. Tyche Wealth Partners LLC lifted its position in Deere & Company by 9.8% during the second quarter. Tyche Wealth Partners LLC now owns 705 shares of the industrial products company’s stock valued at $358,000 after buying an additional 63 shares during the period. KLP Kapitalforvaltning AS lifted its position in Deere & Company by 1.4% during the second quarter. KLP Kapitalforvaltning AS now owns 159,529 shares of the industrial products company’s stock valued at $81,339,000 after buying an additional 2,200 shares during the period. Finally, RMG Wealth Management LLC purchased a new position in Deere & Company during the second quarter valued at $470,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the subject of several recent research reports. Oppenheimer lowered their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Daiwa Capital Markets lowered their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. JPMorgan Chase & Co. cut their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 2nd. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Trading Up 0.8%

Shares of NYSE:DE opened at $461.08 on Wednesday. The company has a market cap of $124.64 billion, a P/E ratio of 24.10, a PEG ratio of 2.94 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The stock’s fifty day moving average price is $482.54 and its 200-day moving average price is $488.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for 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 company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.29 earnings per share. 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 declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend 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.