Evansbrook LLC Takes Position in Deere & Company $DE

Evansbrook LLC purchased a new position in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,314 shares of the industrial products company’s stock, valued at approximately $612,000.

Other large investors also recently modified their holdings of the company. Cary Street Partners Financial LLC grew its stake in shares of Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its stake in shares of Deere & Company by 55.8% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares during the period. Westpac Banking Corp lifted its stake in shares of Deere & Company by 78.6% in the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after purchasing an additional 3,047 shares during the period. Legal & General Group Plc boosted its holdings in shares of Deere & Company by 7.6% in 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 buying an additional 115,975 shares during the last quarter. Finally, Eldred Rock Partners LLC purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $13,166,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.3%

Deere & Company stock opened at $590.37 on Friday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The firm has a market capitalization of $159.36 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92. The firm has a 50 day moving average of $574.09 and a 200 day moving average of $552.39. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the firm earned $6.64 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. UBS Group boosted their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Oppenheimer reiterated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Robert W. Baird cut 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 report on Friday, May 22nd. Finally, Morgan Stanley upped their price objective on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $639.58.

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.