71 West Capital Partners Makes New $553,000 Investment in Deere & Company $DE

71 West Capital Partners bought a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, HoldingsChannel.com reports. The fund bought 1,187 shares of the industrial products company’s stock, valued at approximately $553,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC increased its stake in Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC increased its stake in Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after acquiring an additional 30,553 shares during the last quarter. Westpac Banking Corp increased its stake in Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after acquiring an additional 3,047 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock worth $9,682,000 after acquiring an additional 2,702 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Deere & Company by 7.6% during the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock worth $755,385,000 after acquiring an additional 115,975 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DE shares. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Robert W. Baird dropped their price objective 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. Citigroup dropped their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th. Finally, Raymond James Financial dropped their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Trading Up 1.9%

Shares of NYSE DE opened at $586.43 on Wednesday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of $573.50 and a 200-day simple moving average of $550.68. The stock has a market capitalization of $158.30 billion, a PE ratio of 33.23, a PEG ratio of 2.13 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating 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 period in the previous year, the firm posted $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

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.