Pure Financial Advisors LLC Takes Position in Deere & Company $DE

Pure Financial Advisors LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,146 shares of the industrial products company’s stock, valued at approximately $727,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Deere & Company in the 2nd quarter valued at $11,763,504,000. Norges Bank acquired a new stake in Deere & Company during the 4th quarter worth $1,715,633,000. Capital World Investors grew its holdings in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Deere & Company in the second quarter valued at about $1,685,093,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Deere & Company in the second quarter valued at about $1,259,279,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DE shares. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. UBS Group decreased their target price on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Bank of America lowered their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Robert W. Baird upped their price target on Deere & Company from $525.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $653.48.

Deere & Company Price Performance

Shares of DE stock opened at $633.36 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The company has a market capitalization of $170.97 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. The firm’s 50-day moving average is $610.13 and its two-hundred day moving average is $592.80. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

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

Deere & Company Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

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.