Fairway Wealth LLC Invests $563,000 in Deere & Company $DE

Fairway Wealth LLC purchased a new stake in Deere & Company (NYSE:DE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,000 shares of the industrial products company’s stock, valued at approximately $563,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. Norges Bank purchased a new position in shares of Deere & Company in the 4th quarter valued at $1,715,633,000. Capital World Investors boosted its position in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after purchasing an additional 1,893,972 shares during the period. M&T Bank Corp increased its holdings in Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after purchasing an additional 1,721,239 shares in the last quarter. Finally, Diamant Asset Management Inc. raised its position in Deere & Company by 56,230.0% in the first quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock valued at $343,961,000 after purchasing an additional 609,533 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $627.25 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The company’s fifty day moving average price is $575.37 and its two-hundred day moving average price is $559.08. The firm has a market capitalization of $169.32 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.27 and a beta of 0.92. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating 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 period last year, the firm earned $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio is currently 36.71%.

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Robert W. Baird lowered their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Wolfe Research raised their target price on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Barclays boosted their price target on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Finally, Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $639.58.

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.