Marvin & Palmer Associates Inc. Increases Position in Deere & Company $DE

Marvin & Palmer Associates Inc. grew its holdings in Deere & Company (NYSE:DE) by 67.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,279 shares of the industrial products company’s stock after buying an additional 3,743 shares during the quarter. Deere & Company accounts for 3.8% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 12th largest position. Marvin & Palmer Associates Inc.’s holdings in Deere & Company were worth $5,886,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Deere & Company in the second quarter valued at about $27,000. Kilter Group LLC purchased a new position in Deere & Company in the 2nd quarter valued at about $29,000. Timmons Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter valued at about $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the 4th quarter worth about $30,000. Finally, Solstein Capital LLC acquired a new stake in Deere & Company in the 2nd quarter worth about $30,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on DE. Barclays increased their target price on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Tuesday, August 18th. Seaport Research Partners set a $570.00 price objective on Deere & Company in a research note on Friday, August 14th. Robert W. Baird increased their price objective on Deere & Company from $525.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Finally, Raymond James Financial decreased their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $653.48.

Deere & Company Stock Up 1.3%

NYSE DE opened at $630.66 on Friday. 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 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The business’s fifty day simple moving average is $611.59 and its 200-day simple moving average is $593.34. The firm has a market cap of $170.24 billion, a PE ratio of 35.04, a P/E/G ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate 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 company posted $4.75 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

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

About Deere & Company

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.