Global Retirement Partners LLC Invests $3.89 Million in Deere & Company $DE

Global Retirement Partners LLC purchased a new position in Deere & Company (NYSE:DE) during the second quarter, Holdings Channel.com reports. The fund purchased 6,133 shares of the industrial products company’s stock, valued at approximately $3,890,000.

Several other institutional investors have also bought and sold shares of DE. Brighton Jones LLC raised its stake in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 150 shares during the period. Jump Financial LLC bought a new position in shares of Deere & Company during the 2nd quarter worth $2,153,000. NewEdge Advisors LLC increased its holdings in Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $608.73 on Monday. The stock’s 50-day simple moving average is $603.23 and its 200 day simple moving average is $588.27. The stock has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth 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 52-week low of $433.00 and a 52-week high of $674.19.

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

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James Financial dropped their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research report on Friday. Truist Financial upped their price target on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Citigroup raised their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.