13,825 Shares in Deere & Company $DE Purchased by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. bought a new position in Deere & Company (NYSE:DE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,825 shares of the industrial products company’s stock, valued at approximately $8,770,000.

Other large investors have also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Deere & Company in the second quarter worth approximately $27,000. Kilter Group LLC bought a new stake in Deere & Company during the second quarter valued at approximately $29,000. Timmons Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the 4th quarter worth $30,000. Finally, Solstein Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $633.36 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The stock has a market cap of $170.97 billion, a PE ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90. The company’s fifty day moving average is $610.13 and its 200 day moving average is $592.80. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.75 earnings per share. Research analysts anticipate that Deere & Company will post 18.09 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Analyst Ratings Changes

DE has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Bank of America cut their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $653.48.

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.