Brookstone Capital Management Purchases 1,413 Shares of Deere & Company $DE

Brookstone Capital Management boosted its position in Deere & Company (NYSE:DE) by 36.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,315 shares of the industrial products company’s stock after acquiring an additional 1,413 shares during the quarter. Brookstone Capital Management’s holdings in Deere & Company were worth $2,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at $25,000. Key Capital Management INC bought a new position in shares of Deere & Company in the 4th quarter valued at $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the 3rd quarter worth $32,000. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Truist Financial reduced their price objective on Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research note on Tuesday, May 26th. Raymond James Financial dropped their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. DA Davidson reduced 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 note on Friday, May 22nd. Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Barclays upped their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $601.91 on Thursday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock has a market cap of $162.48 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 2.19 and a beta of 0.92. The company’s fifty day moving average is $573.07 and its 200 day moving average is $555.79.

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 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 company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the firm earned $6.64 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

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

Deere & 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.