Adell Harriman & Carpenter Inc. Purchases Shares of 460 Deere & Company (NYSE:DE)

Adell Harriman & Carpenter Inc. purchased a new stake in Deere & Company (NYSE:DE) in the first quarter, HoldingsChannel reports. The fund purchased 460 shares of the industrial products company’s stock, valued at approximately $216,000.

Other hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in Deere & Company in the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company in the 4th quarter valued at $39,000. Citizens National Bank Trust Department bought a new stake in Deere & Company in the 1st quarter valued at $45,000. Dogwood Wealth Management LLC bought a new stake in Deere & Company in the 4th quarter valued at $42,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Deere & Company in the 1st quarter valued at $47,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.5%

Shares of Deere & Company stock opened at $517.50 on Friday. The stock has a market capitalization of $140.15 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 3.31 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The company has a 50-day simple moving average of $506.47 and a 200 day simple moving average of $475.58. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $8.53 EPS. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is presently 31.35%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DE shares. Morgan Stanley increased their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $515.19.

Deere & Company Company Profile

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.