Kimelman & Baird LLC Invests $102,000 in Deere & Company (NYSE:DE)

Kimelman & Baird LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 273 shares of the industrial products company’s stock, valued at approximately $102,000.

A number of other institutional investors also recently made changes to their positions in DE. True Wealth Design LLC boosted its holdings in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the second quarter valued at approximately $26,000. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $33,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $417.33 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a twelve month low of $340.20 and a twelve month high of $419.63. The stock has a market cap of $115.00 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.36 and a beta of 0.92. The company’s fifty day moving average is $380.26 and its 200 day moving average is $384.41.

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 the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.41%. Deere & Company’s dividend payout ratio is 17.70%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial reiterated a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $410.50.

Deere & Company Profile

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.