Evansbrook LLC Purchases Shares of 1,314 Deere & Company $DE

Evansbrook LLC acquired a new stake in Deere & Company (NYSE:DE) during the 4th quarter, Holdings Channel reports. The firm acquired 1,314 shares of the industrial products company’s stock, valued at approximately $612,000.

Other hedge funds have also recently made changes to their positions in the company. Strategic Advocates LLC bought a new stake in Deere & Company during the 3rd quarter valued at approximately $25,000. Key Capital Management INC purchased a new position in Deere & Company in the 4th quarter worth approximately $27,000. Timmons Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC bought a new position in Deere & Company in the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in Deere & Company during the 3rd quarter valued at approximately $32,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Oppenheimer restated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a research note on Wednesday, April 8th. Robert W. Baird reduced their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Performance

NYSE DE opened at $590.37 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The business has a 50 day simple moving average of $574.09 and a two-hundred day simple moving average of $552.39. The stock has a market capitalization of $159.36 billion, a PE ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $6.64 EPS. On average, research analysts predict that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

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.