Tobam Takes $123,000 Position in Deere & Company $DE

Tobam bought a new stake in shares of Deere & Company (NYSE:DE) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 241 shares of the industrial products company’s stock, valued at approximately $123,000.

Other hedge funds have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the second quarter valued at about $25,000. Activest Wealth Management raised its position in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company in the 2nd quarter valued at approximately $38,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the second quarter valued at approximately $39,000. Finally, Center for Financial Planning Inc. grew its stake in Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE DE opened at $479.22 on Thursday. The stock has a market capitalization of $129.55 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.05 and a beta of 1.04. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The business’s fifty day moving average price is $466.00 and its 200-day moving average price is $490.69.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the business earned $6.29 earnings per share. Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Wall Street Analyst Weigh In

Several brokerages have commented on DE. 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. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. Jefferies Financial Group dropped their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Finally, Royal Bank Of Canada began coverage on shares of Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company 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.