Annex Advisory Services LLC Acquires 57,696 Shares of Deere & Company $DE

Annex Advisory Services LLC raised its holdings in Deere & Company (NYSE:DE) by 11,031.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,219 shares of the industrial products company’s stock after buying an additional 57,696 shares during the quarter. Annex Advisory Services LLC’s holdings in Deere & Company were worth $36,930,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Deere & Company by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after acquiring an additional 198,332 shares in the last quarter. State Street Corp boosted its holdings in Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after acquiring an additional 97,049 shares in the last quarter. Capital World Investors increased its position in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the period. Price T Rowe Associates Inc. MD increased its position in Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after purchasing an additional 158,584 shares during the period. Finally, Geode Capital Management LLC increased its position in Deere & Company by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after purchasing an additional 17,269 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

DE opened at $617.46 on Wednesday. The stock has a fifty day simple moving average of $601.70 and a two-hundred day simple moving average of $586.24. 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 market cap of $166.68 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating 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 business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the firm posted $6.64 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Analyst Ratings Changes

Several equities research analysts have recently commented on DE shares. Truist Financial raised their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Robert W. Baird reduced 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 report on Friday, May 22nd. DA Davidson reissued a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a research note on Friday, July 17th. Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Oppenheimer restated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $642.98.

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.