Wilkinson Global Asset Management LLC Invests $48.23 Million in Deere & Company $DE

Wilkinson Global Asset Management LLC purchased a new stake in Deere & Company (NYSE:DE) in the second quarter, Holdings Channel reports. The firm purchased 76,029 shares of the industrial products company’s stock, valued at approximately $48,227,000. Deere & Company comprises about 3.8% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 14th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Portus Wealth Advisors LLC bought a new position in Deere & Company during the first quarter worth $32,000. Timmons Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter valued at $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $30,000. Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Deere & Company by 6,900.0% during the first quarter. Evolution Wealth Management Inc. now owns 70 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 69 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Robert W. Baird decreased their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a report on Friday. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Finally, Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

Deere & Company Trading Down 0.0%

Deere & Company stock opened at $608.73 on Monday. 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 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The firm has a 50-day moving average price of $603.23 and a two-hundred day moving average price of $588.27.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for 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 firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $6.64 EPS. Sell-side analysts expect that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Deere & 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.