Greenwood Capital Associates LLC Buys 1,412 Shares of Deere & Company $DE

Greenwood Capital Associates LLC raised its position in shares of Deere & Company (NYSE:DE) by 15.7% during the second quarter, HoldingsChannel reports. The firm owned 10,398 shares of the industrial products company’s stock after purchasing an additional 1,412 shares during the period. Greenwood Capital Associates LLC’s holdings in Deere & Company were worth $6,596,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Deere & Company in the 2nd quarter worth approximately $11,763,504,000. Norges Bank bought a new position in Deere & Company during the fourth quarter valued at approximately $1,715,633,000. Capital World Investors grew its position in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Deere & Company during the second quarter worth approximately $1,685,093,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $1,259,279,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $630.66 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a 50-day moving average of $611.59 and a 200 day moving average of $593.34. The company has a market cap of $170.24 billion, a P/E ratio of 35.04, a PEG ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the previous year, the business posted $4.75 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

DE has been the subject of several analyst reports. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research report on Friday, August 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, August 24th. Bank of America reduced their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Barclays boosted their price objective on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Finally, Raymond James Financial dropped their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $653.48.

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.