Marvin & Palmer Associates Inc. Grows Holdings in Deere & Company $DE

Marvin & Palmer Associates Inc. raised its holdings in shares of Deere & Company (NYSE:DE) by 67.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,279 shares of the industrial products company’s stock after purchasing an additional 3,743 shares during the quarter. Deere & Company accounts for approximately 3.8% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 12th largest holding. Marvin & Palmer Associates Inc.’s holdings in Deere & Company were worth $5,886,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DE. Trustmark Bank Trust Department grew its holdings in shares of Deere & Company by 2.1% in the second quarter. Trustmark Bank Trust Department now owns 7,998 shares of the industrial products company’s stock worth $5,073,000 after purchasing an additional 163 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of Deere & Company by 9.6% in the second quarter. New Mexico Educational Retirement Board now owns 12,602 shares of the industrial products company’s stock valued at $7,994,000 after purchasing an additional 1,100 shares during the period. Toth Financial Advisory Corp increased its holdings in Deere & Company by 137.7% during the 2nd quarter. Toth Financial Advisory Corp now owns 126 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 73 shares during the period. Mufg Securities Americas Inc. raised its position in Deere & Company by 8.5% during the 2nd quarter. Mufg Securities Americas Inc. now owns 7,566 shares of the industrial products company’s stock valued at $4,799,000 after purchasing an additional 592 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Deere & Company in the 2nd quarter worth $207,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.3%

NYSE DE opened at $630.66 on Friday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a 50 day moving average price of $611.59 and a 200 day moving average price of $593.34. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The firm has a market cap of $170.24 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the company posted $4.75 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio is 36.00%.

Analyst Ratings Changes

Several brokerages have recently commented on DE. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Barclays upped their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. DA Davidson increased their target price on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Citigroup raised their target price on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, Bank of America lowered their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $653.48.

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.