Pacific Sage Partners LLC Invests $2.59 Million in Deere & Company $DE

Pacific Sage Partners LLC acquired a new position in Deere & Company (NYSE:DE) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,086 shares of the industrial products company’s stock, valued at approximately $2,592,000. Deere & Company comprises 0.4% of Pacific Sage Partners LLC’s investment portfolio, making the stock its 25th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Key Capital Management INC bought a new position in Deere & Company in the 4th quarter worth about $27,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $32,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the third quarter worth approximately $32,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DE shares. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a report on Friday. DA Davidson reaffirmed a “buy” rating and set a $685.00 target price on shares of Deere & Company in a research note on Friday, July 17th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Robert W. Baird reduced their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” 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 price target on shares of Deere & Company in a research note on Monday, June 1st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $641.98.

Deere & Company Trading Down 0.6%

Shares of NYSE:DE opened at $608.73 on Friday. The company has a 50 day moving average of $603.23 and a 200-day moving average of $587.77. The firm has a market cap of $164.32 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period last year, the firm posted $6.64 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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.