RW Investment Management LLC Makes New $2.37 Million Investment in Deere & Company $DE

RW Investment Management LLC acquired a new position in Deere & Company (NYSE:DE) during the second quarter, according to its most recent filing with the SEC. The firm acquired 3,735 shares of the industrial products company’s stock, valued at approximately $2,369,000. Deere & Company comprises approximately 0.2% of RW Investment Management LLC’s holdings, making the stock its 17th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. increased its position in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 150 shares during the period. Jump Financial LLC bought a new position in Deere & Company in the 2nd quarter worth $2,153,000. NewEdge Advisors LLC lifted its position in shares of Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after purchasing an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.0%

Shares of NYSE DE opened at $608.73 on Monday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market cap of $164.32 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. The firm has a 50-day moving average of $603.23 and a 200 day moving average of $588.27. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

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

Deere & Company Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Oppenheimer restated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Robert W. Baird cut their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. decreased their target price on Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $641.98.

Deere & Company 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.