Essex Investment Management Co. LLC Makes New $988,000 Investment in Deere & Company (NYSE:DE)

Essex Investment Management Co. LLC bought a new position in Deere & Company (NYSE:DE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,106 shares of the industrial products company’s stock, valued at approximately $988,000.

Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Deere & Company in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC raised its holdings in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $42,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DE shares. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Morgan Stanley raised their price target on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Robert W. Baird raised their price target on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Truist Financial raised their price objective on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $515.50.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $512.62 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The business’s 50 day simple moving average is $512.40 and its two-hundred day simple moving average is $485.72. The stock has a market capitalization of $138.83 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 3.24 and a beta of 1.08. Deere & Company has a one year low of $340.20 and a one year high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $8.53 EPS. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. Deere & Company’s dividend payout ratio is currently 31.35%.

Deere & Company 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.