Birmingham Capital Management Co. Inc. AL Purchases New Holdings in Deere & Company $DE

Birmingham Capital Management Co. Inc. AL acquired a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 31,262 shares of the industrial products company’s stock, valued at approximately $19,830,000. Deere & Company comprises approximately 7.5% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 2nd largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $27,000. Kilter Group LLC bought a new position in shares of Deere & Company during the second quarter valued at $29,000. Solstein Capital LLC bought a new position in shares of Deere & Company during the second quarter valued at $30,000. Portus Wealth Advisors LLC purchased a new position in shares of Deere & Company in the 1st quarter worth about $32,000. Finally, Timmons Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DE shares. Raymond James Financial dropped their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. UBS Group decreased their target price on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a report on Friday, August 21st. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Tuesday, August 18th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $653.48.

Deere & Company Price Performance

Shares of DE opened at $633.36 on Thursday. The firm has a fifty day simple moving average of $610.13 and a two-hundred day simple moving average of $592.80. The firm has a market cap of $170.97 billion, a PE ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $4.75 EPS. On average, equities analysts anticipate that Deere & Company will post 18.09 EPS for the current year.

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.