Brookstone Capital Management Has $2.99 Million Position in Deere & Company $DE

Brookstone Capital Management grew its holdings in shares of Deere & Company (NYSE:DE) by 36.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,315 shares of the industrial products company’s stock after buying an additional 1,413 shares during the quarter. Brookstone Capital Management’s holdings in Deere & Company were worth $2,994,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strategic Advocates LLC bought a new position in Deere & Company during the 3rd quarter valued at $25,000. Key Capital Management INC purchased a new position in shares of Deere & Company during the 4th quarter valued at $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company during the fourth quarter worth about $29,000. McIlrath & Eck LLC purchased a new position in Deere & Company in the 4th quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Deere & Company in the third quarter valued at $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $601.91 on Thursday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The business’s fifty day moving average is $573.07 and its 200 day moving average is $555.79. The stock has a market cap of $162.48 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.19 and a beta of 0.92. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period last year, the company posted $6.64 EPS. Deere & Company’s revenue was up 5.4% on a year-over-year basis. Research analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Citigroup dropped their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Bank of America reduced their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company 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.