Focused Alpha LLC Buys Shares of 1,063 Deere & Company $DE

Focused Alpha LLC purchased a new stake in Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,063 shares of the industrial products company’s stock, valued at approximately $674,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Timmons Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $29,000. McIlrath & Eck LLC purchased a new position in Deere & Company during the 4th quarter valued at about $30,000. Portus Wealth Advisors LLC acquired a new position in Deere & Company during the first quarter worth about $32,000. Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company in the third quarter valued at about $32,000. Finally, SHP Wealth Management purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE opened at $600.08 on Tuesday. The stock has a market capitalization of $161.99 billion, a PE ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. The company’s 50 day simple moving average is $603.76 and its 200 day simple moving average is $588.84. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the business earned $6.64 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were paid a $1.62 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Truist Financial upped their target price on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

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.