Inceptionr LLC Invests $1.18 Million in Deere & Company $DE

Inceptionr LLC acquired a new stake in Deere & Company (NYSE:DE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,093 shares of the industrial products company’s stock, valued at approximately $1,179,000.

A number of other large investors have also added to or reduced their stakes in the business. Key Capital Management INC acquired a new position in Deere & Company in the 4th quarter valued at approximately $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $30,000. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the third quarter worth $32,000. Finally, Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company in the first quarter worth $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.5%

Shares of DE stock opened at $610.38 on Friday. The company has a market cap of $164.77 billion, a P/E ratio of 34.58, a PEG ratio of 2.56 and a beta of 0.89. The stock has a 50 day simple moving average of $583.73 and a two-hundred day simple moving average of $575.72. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the business earned $6.64 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 18.27 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DE. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a report on Wednesday, April 8th. Truist Financial upped their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Oppenheimer reissued an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Bank of America lowered their price objective 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. Finally, Wolfe Research upped their target price on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average price target 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.