S&CO Inc. Acquires New Position in Deere & Company $DE

S&CO Inc. acquired a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 860 shares of the industrial products company’s stock, valued at approximately $545,000.

A number of other large investors also recently bought and sold shares of DE. Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company in the 1st quarter valued at approximately $32,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new position in Deere & Company during the fourth quarter worth $30,000. Wealth Watch Advisors INC bought a new position in Deere & Company during the third quarter worth $32,000. Finally, Evolution Wealth Management Inc. lifted its stake in Deere & Company by 6,900.0% during the first quarter. Evolution Wealth Management Inc. now owns 70 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $608.73 on Monday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The stock’s 50 day moving average price is $603.23 and its 200 day moving average price is $588.27. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.64 earnings per share. Equities research analysts anticipate that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a $1.62 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Ratings Changes

Several research firms have weighed in on DE. Robert W. Baird lowered their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Bank of America lowered their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

Deere & Company Company Profile

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.