1,063 Shares in Deere & Company $DE Purchased by Focused Alpha LLC

Focused Alpha LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,063 shares of the industrial products company’s stock, valued at approximately $674,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cary Street Partners Financial LLC increased its stake in shares of Deere & Company by 11.8% during 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 in the last quarter. Baxter Bros Inc. purchased a new position in Deere & Company during the second quarter worth approximately $1,707,000. Global Retirement Partners LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth $3,890,000. Spectrum Financial Alliance Ltd LLC boosted its holdings in Deere & Company by 55.8% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Finally, Westpac Banking Corp lifted its holdings in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after acquiring an additional 3,047 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DE shares. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Oppenheimer reiterated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Truist Financial upped their price objective on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

Deere & Company Trading Down 1.4%

Shares of DE stock opened at $600.08 on Tuesday. The business’s fifty day moving average price is $603.76 and its 200 day moving average price is $588.84. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. 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. Deere & Company has a 1-year low of $433.00 and a 1-year 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. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $6.64 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 18.26 EPS for the current fiscal year.

Deere & Company Announces Dividend

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