Naples Global Advisors LLC Increases Stake in Deere & Company $DE

Naples Global Advisors LLC raised its position in Deere & Company (NYSE:DE) by 1.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,827 shares of the industrial products company’s stock after purchasing an additional 61 shares during the period. Naples Global Advisors LLC’s holdings in Deere & Company were worth $2,462,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Activest Wealth Management raised its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its holdings in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company during the 2nd quarter worth $38,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $451.43 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a fifty day moving average price of $486.80 and a 200 day moving average price of $489.36. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a market cap of $122.04 billion, a PE ratio of 23.60, a P/E/G ratio of 2.94 and a beta of 1.03.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the company earned $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analyst Ratings Changes

DE has been the topic of several analyst reports. Robert W. Baird reduced their price target on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. DA Davidson reduced their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Daiwa Capital Markets cut their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $518.06.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.