KCM Investment Advisors LLC Buys 4,217 Shares of Deere & Company $DE

KCM Investment Advisors LLC raised its position in Deere & Company (NYSE:DE) by 41.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,472 shares of the industrial products company’s stock after acquiring an additional 4,217 shares during the quarter. KCM Investment Advisors LLC’s holdings in Deere & Company were worth $7,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company in the 2nd quarter valued at $25,000. Activest Wealth Management lifted its stake in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new stake in Deere & Company during the 2nd quarter worth approximately $38,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. Robert W. Baird reduced their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Daiwa Capital Markets dropped their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Finally, Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $466.98 on Friday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The firm has a market capitalization of $126.24 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.05 and a beta of 1.04. The business has a 50-day simple moving average of $465.84 and a 200 day simple moving average of $490.08. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the company earned $6.29 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

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.