Stableford Capital II LLC Takes Position in Deere & Company $DE

Stableford Capital II LLC acquired a new stake in Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,488 shares of the industrial products company’s stock, valued at approximately $944,000.

Several other hedge funds have also added to or reduced their stakes in DE. Brighton Jones LLC increased its holdings in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Schnieders Capital Management LLC. raised its position in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 150 shares during the last quarter. Jump Financial LLC acquired a new position in Deere & Company during the 2nd quarter worth about $2,153,000. NewEdge Advisors LLC lifted its holdings in Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after buying an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC grew its position in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after buying an additional 97 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

DE stock opened at $606.16 on Tuesday. The stock has a 50-day moving average price of $593.09 and a 200-day moving average price of $582.05. Deere & Company has a 1-year low of $433.00 and a 1-year 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 firm has a market cap of $163.63 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.50 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $11.55 billion. During the same period in the previous year, the business earned $6.64 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Deere & Company will post 18.26 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, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is 36.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DE. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Oppenheimer reiterated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Citigroup increased their target price on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Raymond James Financial lowered their price target 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. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & 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.