PSI Advisors LLC Acquires 370 Shares of Deere & Company (NYSE:DE)

PSI Advisors LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 19.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,305 shares of the industrial products company’s stock after buying an additional 370 shares during the quarter. PSI Advisors LLC’s holdings in Deere & Company were worth $1,082,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Principal Securities Inc. boosted its position in shares of Deere & Company by 9.7% in the fourth quarter. Principal Securities Inc. now owns 4,329 shares of the industrial products company’s stock worth $1,834,000 after purchasing an additional 381 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Deere & Company by 16.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 783 shares of the industrial products company’s stock worth $332,000 after buying an additional 110 shares in the last quarter. Csenge Advisory Group lifted its holdings in shares of Deere & Company by 5.4% in the fourth quarter. Csenge Advisory Group now owns 2,580 shares of the industrial products company’s stock worth $1,093,000 after buying an additional 132 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its holdings in shares of Deere & Company by 1.8% in the fourth quarter. Valmark Advisers Inc. now owns 2,642 shares of the industrial products company’s stock worth $1,120,000 after buying an additional 46 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. UBS Group lowered their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Bank of America boosted their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Raymond James Financial boosted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $515.19.

Deere & Company Trading Down 0.3%

Shares of DE opened at $523.08 on Wednesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The company has a market cap of $141.67 billion, a P/E ratio of 25.31, a P/E/G ratio of 3.33 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company’s fifty day simple moving average is $490.87 and its 200-day simple moving average is $469.33.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

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.