Lowe Brockenbrough & Co. Inc. Grows Holdings in Deere & Company $DE

Lowe Brockenbrough & Co. Inc. increased its position in shares of Deere & Company (NYSE:DE) by 58.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,785 shares of the industrial products company’s stock after buying an additional 1,774 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Deere & Company were worth $2,228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Cerro Pacific Wealth Advisors LLC grew its holdings in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 19 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of Deere & Company by 2.2% in the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after buying an additional 19 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Deere & Company by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock valued at $360,000 after buying an additional 20 shares during the period. Finally, Family Legacy Inc. boosted its holdings in shares of Deere & Company by 0.3% in the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock valued at $3,675,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DE. DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Wolfe Research lifted their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Robert W. Baird decreased their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Argus lifted their price target on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Citigroup decreased their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Trading Down 1.3%

Deere & Company stock opened at $583.80 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a 50-day moving average price of $572.86 and a two-hundred day moving average price of $545.60. The firm has a market capitalization of $157.59 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.20 and a beta of 0.92. Deere & Company has a 52-week low of $433.00 and a 52-week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $6.64 EPS. Sell-side analysts expect that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. 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 presently 36.71%.

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.