RB Capital Management LLC Makes New $1.58 Million Investment in Deere & Company $DE

RB Capital 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 SEC. The fund bought 2,485 shares of the industrial products company’s stock, valued at approximately $1,576,000.

A number of other large investors have also made changes to their positions in DE. Anchyra Partners LLC boosted its holdings in Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its position in Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares in the last quarter. Advisortrust Partners LLC boosted its position in Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its holdings in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Deere & Company from $525.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research report on Tuesday, August 18th. UBS Group reduced their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Finally, Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $653.48.

Deere & Company Price Performance

Shares of NYSE:DE opened at $630.66 on Friday. The company has a market cap of $170.24 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 0.90. The business has a fifty day simple moving average of $611.59 and a 200-day simple moving average of $593.34. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last issued 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 firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $4.75 EPS. Equities research analysts forecast that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is presently 36.00%.

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.