Proficio Capital Partners LLC Purchases Shares of 1,637 Deere & Company $DE

Proficio Capital Partners LLC purchased a new stake in Deere & Company (NYSE:DE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,637 shares of the industrial products company’s stock, valued at approximately $1,038,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Deere & Company in the 2nd quarter valued at approximately $27,000. Kilter Group LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $29,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Solstein Capital LLC bought a new stake in Deere & Company during the 2nd quarter worth about $30,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday. Truist Financial reduced their price target on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a report on Monday. Oppenheimer boosted their price target on Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Raymond James Financial dropped their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Finally, Barclays raised their price objective on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $653.48.

Deere & Company Trading Up 0.4%

Shares of NYSE:DE opened at $633.36 on Thursday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The stock has a market cap of $170.97 billion, a PE ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90. The business has a 50 day moving average of $610.13 and a 200-day moving average of $592.80. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

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

Deere & Company Announces Dividend

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

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.