88,481 Shares in Deere & Company $DE Purchased by CORDA Investment Management LLC.

CORDA Investment Management LLC. bought a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 88,481 shares of the industrial products company’s stock, valued at approximately $56,126,000. Deere & Company accounts for 3.4% of CORDA Investment Management LLC.’s holdings, making the stock its 7th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Silverlake Wealth Management LLC acquired a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $993,000. Bank of New York Mellon Corp acquired a new stake in shares of Deere & Company in the 2nd quarter worth approximately $1,259,279,000. Focus Partners Advisor Solutions LLC purchased a new position in Deere & Company in the 2nd quarter valued at approximately $6,149,000. ABN AMRO Bank N.V. acquired a new position in Deere & Company during the second quarter worth $21,742,000. Finally, Summit Asset Management LLC acquired a new stake in Deere & Company in the second quarter valued at $2,617,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $608.73 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The business has a fifty day moving average of $603.23 and a 200-day moving average of $587.77. The stock has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.

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, beating 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 business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the company earned $6.64 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

DE has been the subject of several research reports. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. 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. Truist Financial lifted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $641.98.

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.