Richard Bernstein Advisors LLC grew its stake in Deere & Company (NYSE:DE) by 33.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,040 shares of the industrial products company’s stock after buying an additional 8,035 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Deere & Company were worth $4,479,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of DE. Mount Yale Investment Advisors LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at about $100,000. Kaizen Advisory LLC lifted its holdings in shares of Deere & Company by 158.4% in 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 during the period. Winthrop Partners WNY LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at about $114,000. Clarus Wealth Advisors acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $118,000. Finally, Sun Life Financial INC increased its stake in shares of Deere & Company by 283.8% in the 2nd quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 650 shares in the last quarter. 66.08% of the stock is owned by institutional investors and hedge funds.
NYSE:DE opened at $145.99 on Thursday. Deere & Company has a 12 month low of $114.53 and a 12 month high of $175.26. 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 company has a market cap of $47.41 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.71 and a beta of 0.85.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, August 17th. The industrial products company reported $2.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.75 by ($0.16). Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.18 billion. During the same quarter last year, the firm posted $1.97 earnings per share. Deere & Company’s quarterly revenue was up 35.9% on a year-over-year basis. equities research analysts forecast that Deere & Company will post 9.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, September 28th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.89%. Deere & Company’s dividend payout ratio (DPR) is currently 41.32%.
Several equities analysts recently weighed in on the company. ValuEngine lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Stifel Nicolaus cut their price target on Deere & Company from $193.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, August 20th. JPMorgan Chase & Co. set a $145.00 price target on Deere & Company and gave the company a “hold” rating in a research note on Monday, August 13th. Wells Fargo & Co cut their price target on Deere & Company from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Finally, Citigroup cut their price target on Deere & Company from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, June 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Deere & Company presently has a consensus rating of “Buy” and a consensus target price of $178.42.
Deere & Company Company Profile
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.
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