Engineers Gate Manager LP purchased a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, Holdings Channel reports. The firm purchased 4,200 shares of the industrial products company’s stock, valued at approximately $587,000.
A number of other large investors also recently added to or reduced their stakes in DE. Mount Yale Investment Advisors LLC bought a new stake in shares of Deere & Company during the 1st quarter valued at $100,000. Kaizen Advisory LLC boosted its holdings in shares of Deere & Company by 158.4% during the 2nd quarter. Kaizen Advisory LLC now owns 796 shares of the industrial products company’s stock valued at $111,000 after buying an additional 488 shares in the last quarter. Winthrop Partners WNY LLC bought a new stake in shares of Deere & Company during the 1st quarter valued at $114,000. Clarus Wealth Advisors bought a new stake in shares of Deere & Company during the 2nd quarter valued at $118,000. Finally, Bedel Financial Consulting Inc. bought a new stake in shares of Deere & Company during the 1st quarter valued at $128,000. Institutional investors and hedge funds own 67.14% of the company’s stock.
DE opened at $140.53 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 2.59. The stock has a market capitalization of $45.59 billion, a PE ratio of 16.33, a P/E/G ratio of 2.56 and a beta of 0.85. Deere & Company has a 1 year low of $114.53 and a 1 year high of $175.26.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.16). The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.18 billion. Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. Deere & Company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 EPS. sell-side analysts forecast that Deere & Company will post 9.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Friday, June 29th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Thursday, June 28th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.60. Deere & Company’s payout ratio is currently 41.32%.
A number of analysts have recently commented on DE shares. Zacks Investment Research cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 24th. Bank of America upgraded shares of Deere & Company from a “neutral” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Thursday, May 3rd. Goldman Sachs Group cut shares of Deere & Company from a “conviction-buy” rating to a “buy” rating in a report on Monday, July 16th. UBS Group dropped their target price on shares of Deere & Company from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Finally, TheStreet upgraded shares of Deere & Company from a “c+” rating to an “a-” rating in a report on Friday, May 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $178.42.
About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
Further Reading: Relative Strength Index
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