460 Shares in Deere & Company (NYSE:DE) Acquired by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. bought a new position in Deere & Company (NYSE:DE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 460 shares of the industrial products company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Proficio Capital Partners LLC grew its position in Deere & Company by 23.4% during the fourth quarter. Proficio Capital Partners LLC now owns 1,253 shares of the industrial products company’s stock valued at $531,000 after purchasing an additional 238 shares in the last quarter. Lindbrook Capital LLC grew its position in Deere & Company by 16.9% during the fourth quarter. Lindbrook Capital LLC now owns 684 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 99 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in Deere & Company during the fourth quarter valued at approximately $294,000. Finally, E Fund Management Co. Ltd. purchased a new position in Deere & Company during the fourth quarter valued at approximately $267,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

NYSE DE opened at $517.50 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company has a fifty day simple moving average of $506.47 and a 200 day simple moving average of $475.58. The company has a market cap of $140.15 billion, a P/E ratio of 25.04, a P/E/G ratio of 3.31 and a beta of 1.08. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.53 EPS. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DE. Raymond James Financial boosted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Robert W. Baird increased their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $515.19.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.