Fairway Wealth LLC Takes $563,000 Position in Deere & Company $DE

Fairway Wealth LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,000 shares of the industrial products company’s stock, valued at approximately $563,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Lansforsakringar Fondforvaltning AB publ lifted its holdings in Deere & Company by 0.3% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 82,424 shares of the industrial products company’s stock valued at $46,429,000 after purchasing an additional 237 shares in the last quarter. Bigelow Investment Advisors LLC grew its holdings in shares of Deere & Company by 2.5% during the first quarter. Bigelow Investment Advisors LLC now owns 1,628 shares of the industrial products company’s stock worth $917,000 after buying an additional 40 shares in the last quarter. Portus Wealth Advisors LLC purchased a new stake in shares of Deere & Company during the first quarter worth about $32,000. Apollon Wealth Management LLC raised its position in shares of Deere & Company by 0.6% in the first quarter. Apollon Wealth Management LLC now owns 12,935 shares of the industrial products company’s stock valued at $7,287,000 after buying an additional 72 shares during the last quarter. Finally, Canoe Financial LP acquired a new position in shares of Deere & Company in the first quarter valued at approximately $100,615,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wolfe Research raised their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. boosted their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Robert W. Baird reduced their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Barclays raised their price objective on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Finally, Argus lifted their price objective on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Price Performance

Deere & Company stock opened at $627.25 on Tuesday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a 50 day moving average price of $575.37 and a 200 day moving average price of $559.08. The company has a market cap of $169.32 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.27 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE) last issued its quarterly earnings results 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 firm had revenue of $13.37 billion during 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 revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.64 earnings per share. Sell-side 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 issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

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.