Perennial Investment Advisors LLC Invests $559,000 in Deere & Company $DE

Perennial Investment Advisors LLC bought a new stake in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 882 shares of the industrial products company’s stock, valued at approximately $559,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Anchyra Partners LLC boosted its position in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. raised its stake in Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares during the period. Advisortrust Partners LLC grew its stake in Deere & Company by 2.0% in the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC grew its stake in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after acquiring an additional 19 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $633.36 on Thursday. The business’s fifty day simple moving average is $610.13 and its 200 day simple moving average is $592.80. The firm has a market capitalization of $170.97 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.75 earnings per share. As a group, analysts anticipate that Deere & Company will post 18.09 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DE shares. Bank of America reduced their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday. Raymond James Financial dropped their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Finally, DA Davidson lifted their price target on Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $653.48.

About Deere & Company

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.