Plato Investment Management Ltd Takes $2.83 Million Position in Deere & Company $DE

Plato Investment Management Ltd purchased a new stake in Deere & Company (NYSE:DE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,493 shares of the industrial products company’s stock, valued at approximately $2,833,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Portus Wealth Advisors LLC acquired a new stake in Deere & Company in the first quarter valued at $32,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at about $30,000. Wealth Watch Advisors INC purchased a new position in shares of Deere & Company in the 3rd quarter valued at about $32,000. Finally, Evolution Wealth Management Inc. lifted its stake in shares of Deere & Company by 6,900.0% in the first quarter. Evolution Wealth Management Inc. now owns 70 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.0%

DE stock opened at $608.73 on Monday. The stock has a market capitalization of $164.32 billion, a P/E ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a 50 day moving average price of $603.23 and a two-hundred day moving average price of $588.27.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the company posted $6.64 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Ratings Changes

Several research analysts have weighed in on DE shares. Truist Financial upped their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Robert W. Baird lowered their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. 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 analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $641.98.

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.