Tiemann Investment Advisors LLC Invests $696,000 in Deere & Company $DE

Tiemann Investment Advisors LLC bought a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,097 shares of the industrial products company’s stock, valued at approximately $696,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DE. Cary Street Partners Financial LLC grew its holdings in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 1,086 shares during the period. Baxter Bros Inc. acquired a new position in shares of Deere & Company during the second quarter valued at about $1,707,000. Global Retirement Partners LLC bought a new position in shares of Deere & Company during the 2nd quarter worth about $3,890,000. Spectrum Financial Alliance Ltd LLC boosted its position in shares of Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares in the last quarter. Finally, Westpac Banking Corp grew its stake in shares of Deere & Company by 78.6% in the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DE shares. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Raymond James Financial decreased their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. lowered their target price on Deere & Company from $590.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $641.98.

Deere & Company Stock Down 1.4%

DE stock opened at $600.08 on Tuesday. The firm has a market capitalization of $161.99 billion, a PE ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock’s 50 day moving average is $603.76 and its 200-day moving average is $588.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) 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 business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the company posted $6.64 earnings per share. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were paid 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 presently 36.71%.

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.