Clare Market Investments LLC Takes Position in Deere & Company (NYSE:DE)

Clare Market Investments LLC bought a new stake in Deere & Company (NYSE:DE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,253 shares of the industrial products company’s stock, valued at approximately $588,000.

Several other large investors have also modified their holdings of the stock. Accel Wealth Management boosted its stake in Deere & Company by 20.9% during the 1st quarter. Accel Wealth Management now owns 7,247 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 1,252 shares during the period. TrueWealth Advisors LLC acquired a new stake in Deere & Company during the 1st quarter worth $388,000. Apella Capital LLC boosted its stake in Deere & Company by 151.4% during the 1st quarter. Apella Capital LLC now owns 5,561 shares of the industrial products company’s stock worth $2,517,000 after purchasing an additional 3,349 shares during the period. Triangle Securities Wealth Management boosted its stake in Deere & Company by 3.4% during the 1st quarter. Triangle Securities Wealth Management now owns 1,475 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 48 shares during the period. Finally, Heritage Family Offices LLP boosted its stake in Deere & Company by 1.6% during the 1st quarter. Heritage Family Offices LLP now owns 1,812 shares of the industrial products company’s stock worth $850,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 1.0%

Shares of NYSE DE opened at $508.21 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The firm has a 50-day moving average price of $477.57 and a 200 day moving average price of $464.39. The stock has a market capitalization of $137.94 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter last year, the business earned $8.53 earnings per share. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.28%. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. Oppenheimer upped their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Raymond James upped their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Evercore ISI upped their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $515.19.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.