REAP Financial Group LLC Boosts Stake in Deere & Company $DE

REAP Financial Group LLC grew its stake in Deere & Company (NYSE:DE) by 58.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130 shares of the industrial products company’s stock after buying an additional 48 shares during the period. REAP Financial Group LLC’s holdings in Deere & Company were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management raised its holdings in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the first quarter worth $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company in the second quarter worth $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the second quarter worth $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Daiwa Capital Markets cut their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Robert W. Baird cut their price objective on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Truist Financial increased their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $518.59.

Deere & Company Stock Down 0.1%

DE stock opened at $461.06 on Thursday. The firm has a market cap of $124.64 billion, a PE ratio of 24.10, a P/E/G ratio of 2.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm’s fifty day moving average is $481.60 and its 200 day moving average is $488.75. Deere & Company has a one year low of $387.03 and a one year high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business earned $6.29 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Deere & Company Company Profile

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.