Oliver Luxxe Assets LLC Invests $4.03 Million in Deere & Company $DE

Oliver Luxxe Assets LLC bought a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 6,348 shares of the industrial products company’s stock, valued at approximately $4,027,000.

Other large investors also recently added to or reduced their stakes in the company. Portus Wealth Advisors LLC purchased a new stake in Deere & Company during the 1st quarter valued at approximately $32,000. Key Capital Management INC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company in the fourth quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the third quarter worth $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DE shares. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Raymond James Financial dropped their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Truist Financial raised their price objective on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Finally, Citigroup boosted their target price on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Stock Up 1.2%

Shares of NYSE:DE opened at $622.04 on Friday. The company has a market cap of $167.91 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 2.62 and a beta of 0.90. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a 50-day moving average price of $599.58 and a 200 day moving average price of $584.43.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the previous year, the firm posted $6.64 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s payout ratio is currently 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.