Smithbridge Asset Management Inc. DE Makes New Investment in Deere & Company $DE

Smithbridge Asset Management Inc. DE acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,155 shares of the industrial products company’s stock, valued at approximately $1,934,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in 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 buying an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC bought a new position in Deere & Company in the second quarter worth about $2,153,000. NewEdge Advisors LLC raised its stake in Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after buying an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Deere & Company by 6.7% in the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after buying an additional 97 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on DE. Barclays increased their price objective on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Oppenheimer reiterated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. UBS Group increased their price objective on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Price Performance

Shares of NYSE:DE opened at $560.95 on Thursday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The business has a fifty day moving average price of $573.05 and a 200-day moving average price of $548.11. The company has a market capitalization of $151.42 billion, a PE ratio of 31.78, a PEG ratio of 2.14 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the company earned $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 18.1 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

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.