Cornerstone Advisors LLC Takes Position in Deere & Company $DE

Cornerstone Advisors LLC bought a new stake in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 25,164 shares of the industrial products company’s stock, valued at approximately $15,962,000.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Timmons Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter valued at $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company during the 4th quarter worth about $30,000. Portus Wealth Advisors LLC acquired a new stake in shares of Deere & Company in the 1st quarter valued at about $32,000. Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. Finally, SHP Wealth Management bought a new stake in Deere & Company in the 4th quarter valued at about $33,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $600.08 on Tuesday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The stock has a market cap of $161.99 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm’s 50-day simple moving average is $603.76 and its 200 day simple moving average is $588.84.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $6.64 EPS. As a group, research analysts anticipate that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

DE has been the topic of a number of research reports. Truist Financial upped their price target on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Seaport Research Partners set a $570.00 target price on Deere & Company in a research report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Finally, Citigroup lifted their price target on shares of Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

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.