Great Lakes Retirement Inc. Acquires 309 Shares of Deere & Company $DE

Great Lakes Retirement Inc. lifted its holdings in shares of Deere & Company (NYSE:DE) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,994 shares of the industrial products company’s stock after purchasing an additional 309 shares during the period. Great Lakes Retirement Inc.’s holdings in Deere & Company were worth $3,048,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Southland Equity Partners LLC boosted its position in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after buying an additional 20 shares during the period. Vivid Wealth Management LLC boosted its position in Deere & Company by 1.9% during the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after buying an additional 20 shares during the period. Werba Rubin Papier Wealth Management boosted its position in Deere & Company by 3.0% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after buying an additional 20 shares during the period. Prairie Wealth Advisors Inc. boosted its position in Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after buying an additional 20 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its position in Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.9%

Shares of DE opened at $461.41 on Friday. The firm’s 50-day moving average price is $467.74 and its 200-day moving average price is $489.49. The firm has a market capitalization of $124.73 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 3.05 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the company posted $6.29 EPS. Deere & Company’s revenue was down 9.0% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s payout ratio is presently 33.87%.

Analyst Ratings Changes

Several brokerages have weighed in on DE. Jefferies Financial Group dropped their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Oppenheimer dropped their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Wolfe Research cut their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $518.72.

About Deere & Company

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.