Lynch Investment Planning LLC Takes Position in Deere & Company $DE

Lynch Investment Planning LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 882 shares of the industrial products company’s stock, valued at approximately $412,000.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Floyd Financial Group LLC raised its stake in Deere & Company by 320.1% during the fourth quarter. Floyd Financial Group LLC now owns 2,319 shares of the industrial products company’s stock worth $1,080,000 after acquiring an additional 1,767 shares during the period. MV Capital Management Inc. acquired a new position in shares of Deere & Company in the 4th quarter valued at about $243,000. Catalyst Investment Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $455,000. Cambient Family Office LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $7,427,000. Finally, White Knight Strategic Wealth Advisors LLC bought a new position in Deere & Company in the 4th quarter worth $356,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein upped their price target on shares of Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. increased their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. UBS Group increased their target price on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Morgan Stanley upped their price target on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Trading Up 0.3%

DE opened at $590.37 on Friday. The stock has a market capitalization of $159.36 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm’s fifty day simple moving average is $574.09 and its 200 day simple moving average is $552.39.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (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 analysts’ expectations 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 was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.64 EPS. As a group, research analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Deere & Company 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.