Scientech Research LLC Takes $799,000 Position in Deere & Company (NYSE:DE)

Scientech Research LLC acquired a new position in Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,138 shares of the industrial products company’s stock, valued at approximately $799,000.

A number of other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC lifted its position in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Fairscale Capital LLC purchased a new stake in Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the 1st 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 purchased a new position in shares of Deere & Company during the 4th quarter valued at $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company in the fourth quarter worth $33,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on DE shares. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Evercore ISI boosted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Bank of America raised their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. 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 data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $410.50.

Deere & Company Price Performance

NYSE DE opened at $418.00 on Friday. The stock has a 50-day simple moving average of $379.51 and a 200 day simple moving average of $384.12. Deere & Company has a twelve month low of $340.20 and a twelve month high of $419.63. The stock has a market capitalization of $115.19 billion, a PE ratio of 12.58, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

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

Deere & Company Announces Dividend

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