OP Asset Management Ltd Invests $14.77 Million in Deere & Company $DE

OP Asset Management Ltd purchased a new position in shares of Deere & Company (NYSE:DE) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 26,211 shares of the industrial products company’s stock, valued at approximately $14,765,000.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Strategic Advocates LLC acquired a new position in Deere & Company during the 3rd quarter worth approximately $25,000. Key Capital Management INC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter worth $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wolfe Research increased their price objective on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Robert W. Baird lowered their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock 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 report on Thursday, May 21st. Argus raised their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Barclays boosted their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Up 1.7%

DE opened at $601.91 on Thursday. The business’s fifty day moving average is $573.07 and its two-hundred day moving average is $555.79. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a market cap of $162.48 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.19 and a beta of 0.92. Deere & Company has a one year low of $433.00 and a one year high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.64 earnings per share. Analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 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.