Hager Investment Management Services LLC Acquires 35 Shares of Deere & Company $DE

Hager Investment Management Services LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 11.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336 shares of the industrial products company’s stock after buying an additional 35 shares during the period. Hager Investment Management Services LLC’s holdings in Deere & Company were worth $171,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Morey & Quinn Wealth Partners LLC boosted its stake in Deere & Company by 3.7% in the 2nd quarter. Morey & Quinn Wealth Partners LLC now owns 2,839 shares of the industrial products company’s stock worth $1,444,000 after purchasing an additional 100 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in Deere & Company by 1.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 11,875 shares of the industrial products company’s stock worth $6,038,000 after purchasing an additional 202 shares in the last quarter. Optas LLC boosted its stake in Deere & Company by 105.8% in the 2nd quarter. Optas LLC now owns 1,568 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 806 shares in the last quarter. Massachusetts Wealth Management boosted its stake in Deere & Company by 0.7% in the 2nd quarter. Massachusetts Wealth Management now owns 5,067 shares of the industrial products company’s stock worth $2,577,000 after purchasing an additional 35 shares in the last quarter. Finally, Northern Financial Advisors Inc boosted its stake in Deere & Company by 12.2% in the 2nd quarter. Northern Financial Advisors Inc now owns 1,175 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $461.06 on Thursday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The business has a 50-day simple moving average of $481.60 and a two-hundred day simple moving average of $488.75. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market cap of $124.64 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the firm earned $6.29 EPS. Deere & Company’s revenue was down 9.0% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Daiwa Capital Markets dropped their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, JPMorgan Chase & Co. decreased their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $518.59.

Deere & Company Company Profile

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.