Gibbs Wealth Management Buys New Shares in Deere & Company $DE

Gibbs Wealth Management purchased a new stake in shares of Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,201 shares of the industrial products company’s stock, valued at approximately $1,240,000.

Other large investors have also recently bought and sold shares of the company. Key Capital Management INC bought a new position in Deere & Company during the fourth quarter worth $27,000. Timmons Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter valued at $29,000. McIlrath & Eck LLC bought a new stake in Deere & Company in the fourth quarter valued at $30,000. Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the third quarter valued at about $32,000. Finally, Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company during the first quarter valued at about $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DE. Citigroup raised their target price on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. DA Davidson reiterated a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. JPMorgan Chase & Co. increased their price target on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $642.98.

Deere & Company Trading Up 0.5%

DE opened at $610.38 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a market capitalization of $164.77 billion, a PE ratio of 34.58, a P/E/G ratio of 2.56 and a beta of 0.89. The company’s 50-day moving average is $583.73 and its 200 day moving average is $575.72.

Deere & Company (NYSE:DE) last released its quarterly 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 business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.64 EPS. As a group, research analysts predict that Deere & Company will post 18.27 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 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.