Asset Allocation & Management Company LLC Buys Shares of 410 Deere & Company $DE

Asset Allocation & Management Company LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 410 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Assenagon Asset Management S.A. raised its holdings in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after purchasing an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares during the period. Providence Capital Advisors LLC raised its stake in Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares during the period. Bragg Financial Advisors Inc increased its stake in shares of Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after acquiring an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Deere & Company in the first quarter worth $13,588,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE stock opened at $463.93 on Friday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market cap of $125.41 billion, a PE ratio of 24.25, a PEG ratio of 3.00 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm’s 50 day moving average price is $489.67 and its two-hundred day moving average price is $489.66.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the firm earned $6.29 earnings per share. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Citigroup reduced their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Daiwa Capital Markets reduced their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Oppenheimer dropped their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $518.06.

Deere & 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.