Ameriflex Group Inc. Boosts Stock Position in Deere & Company $DE

Ameriflex Group Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 577 shares of the industrial products company’s stock after buying an additional 47 shares during the period. Ameriflex Group Inc.’s holdings in Deere & Company were worth $293,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DE. Activest Wealth Management raised its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC bought a new stake in Deere & Company during the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the period. Marshall & Sullivan Inc. WA bought a new stake in Deere & Company during the 2nd quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Deere & Company during the 2nd quarter valued at approximately $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Daiwa Capital Markets decreased their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Wolfe Research reduced their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Finally, Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $518.18.

Deere & Company Stock Performance

NYSE:DE opened at $462.59 on Friday. The stock’s fifty day moving average is $484.64 and its 200 day moving average is $489.09. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The firm has a market capitalization of $125.05 billion, a PE ratio of 24.18, a PEG ratio of 2.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the firm posted $6.29 EPS. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

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.