1,097 Shares in Deere & Company $DE Purchased by Tiemann Investment Advisors LLC

Tiemann Investment Advisors LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,097 shares of the industrial products company’s stock, valued at approximately $696,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Cary Street Partners Financial LLC raised its position in shares of Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Baxter Bros Inc. bought a new position in Deere & Company in the 2nd quarter worth approximately $1,707,000. Global Retirement Partners LLC bought a new position in Deere & Company in the 2nd quarter worth approximately $3,890,000. Spectrum Financial Alliance Ltd LLC grew its stake in Deere & Company by 55.8% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after acquiring an additional 3,047 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent research reports. Bank of America dropped their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Seaport Research Partners set a $570.00 price target on Deere & Company in a research report on Friday. Citigroup boosted their price objective on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $590.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $641.98.

Deere & Company Stock Performance

NYSE DE opened at $600.08 on Tuesday. The company’s 50 day simple moving average is $603.76 and its two-hundred day simple moving average is $588.84. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market capitalization of $161.99 billion, a PE ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90.

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

Deere & Company Announces Dividend

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