Phillips Wealth Planners LLC Acquires New Stake in Deere & Company $DE

Phillips Wealth Planners LLC bought a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 939 shares of the industrial products company’s stock, valued at approximately $567,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Brighton Jones LLC lifted its stake in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its position in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 150 shares during the period. Jump Financial LLC acquired a new stake in Deere & Company during the 2nd quarter valued at approximately $2,153,000. NewEdge Advisors LLC raised its holdings in Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its holdings in Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $600.08 on Tuesday. The company has a market cap of $161.99 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. Deere & Company has a 52 week low of $433.00 and a 52 week 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 firm has a 50 day moving average of $603.76 and a 200-day moving average of $588.84.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.64 EPS. On average, equities analysts forecast that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DE shares. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research note on Friday. DA Davidson reissued a “buy” rating and set a $685.00 target price on shares of Deere & Company in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Robert W. Baird cut their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a report on Friday. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

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.