Ayrshire Capital Management LLC Invests $469,000 in Deere & Company (NYSE:DE)

Ayrshire Capital Management LLC purchased a new stake in Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,000 shares of the industrial products company’s stock, valued at approximately $469,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Quent Capital LLC lifted its position in shares of Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 24 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after buying an additional 24 shares in the last quarter. Coppell Advisory Solutions LLC raised its holdings in Deere & Company by 2.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 25 shares during the last quarter. Glen Eagle Advisors LLC grew its holdings in Deere & Company by 0.9% during the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock worth $1,244,000 after acquiring an additional 25 shares during the period. Finally, Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DE shares. Truist Financial raised their price target on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Bank of America lifted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Morgan Stanley lifted their price target on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $515.19.

Deere & Company Stock Up 0.3%

Shares of NYSE DE opened at $521.63 on Tuesday. The business has a 50-day simple moving average of $480.22 and a two-hundred day simple moving average of $467.10. The company has a market cap of $141.27 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.14 and a beta of 1.09. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $8.53 earnings per share. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.