Joule Financial LLC Raises Stake in Deere & Company (NYSE:DE)

Joule Financial LLC lifted its position in shares of Deere & Company (NYSE:DE) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,385 shares of the industrial products company’s stock after purchasing an additional 55 shares during the period. Joule Financial LLC’s holdings in Deere & Company were worth $578,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DE. Oppenheimer Asset Management Inc. raised its holdings in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC grew its position in shares of Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares during the last quarter. Aviance Capital Partners LLC acquired a new stake in Deere & Company during the 1st quarter worth $2,783,000. Range Financial Group LLC raised its stake in Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 27 shares in the last quarter. Finally, Royal Fund Management LLC lifted its position in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on DE shares. Oppenheimer cut their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Raymond James started coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Finally, Truist Financial boosted their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

NYSE:DE traded down $0.66 during mid-day trading on Friday, hitting $404.48. 143,830 shares of the company’s stock traded hands, compared to its average volume of 1,467,606. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market cap of $111.46 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The firm’s 50 day simple moving average is $391.78 and its 200 day simple moving average is $385.50. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the company posted $10.20 EPS. The company’s revenue was down 20.3% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.