Crystal Rock Capital Management Buys New Holdings in Deere & Company $DE

Crystal Rock Capital Management purchased a new position in shares of Deere & Company (NYSE:DE) in the third quarter, HoldingsChannel.com reports. The fund purchased 1,300 shares of the industrial products company’s stock, valued at approximately $873,000.

Several other large investors have also made changes to their positions in DE. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth $27,000. Kilter Group LLC bought a new position in Deere & Company in the second quarter valued at about $29,000. Solstein Capital LLC acquired a new position in Deere & Company during the second quarter worth about $30,000. Orion Capital Management LLC acquired a new position in Deere & Company during the second quarter worth about $32,000. Finally, Downshift Financial LLC lifted its holdings in shares of Deere & Company by 218.8% in the third quarter. Downshift Financial LLC now owns 51 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $659.98 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $177.94 billion, a PE ratio of 35.59, a P/E/G ratio of 2.34 and a beta of 0.86. Deere & Company has a 12 month low of $454.50 and a 12 month high of $721.22. The stock has a 50-day moving average price of $662.78 and a two-hundred day moving average price of $603.24.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $4.75 earnings per share. Analysts expect that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $585.00 to $625.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Truist Financial lowered their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research report on Monday, August 24th. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. DA Davidson increased their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, August 24th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $688.10.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.