Inceptionr LLC Purchases New Stake in Deere & Company $DE

Inceptionr LLC purchased a new stake in shares of Deere & Company (NYSE:DE) in the first quarter, Holdings Channel reports. The firm purchased 2,093 shares of the industrial products company’s stock, valued at approximately $1,179,000.

A number of other large investors have also recently made changes to their positions in the business. Key Capital Management INC bought a new position in Deere & Company in the 4th quarter valued at about $27,000. Timmons Wealth Management LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $30,000. Portus Wealth Advisors LLC purchased a new stake in shares of Deere & Company in the first quarter worth approximately $32,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the third quarter valued at approximately $32,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DE shares. Raymond James Financial cut their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Robert W. Baird dropped their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Wolfe Research lifted their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Finally, Citigroup increased their target price on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $642.98.

Deere & Company Stock Performance

Shares of DE opened at $610.38 on Friday. The firm has a market cap of $164.77 billion, a PE ratio of 34.58, a PEG ratio of 2.56 and a beta of 0.89. The stock’s fifty day moving average price is $583.73 and its two-hundred day moving average price is $575.72. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the company earned $6.64 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

About Deere & Company

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.