Bluesphere Advisors LLC Invests $719,000 in Deere & Company $DE

Bluesphere Advisors LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,414 shares of the industrial products company’s stock, valued at approximately $719,000.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after purchasing an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC grew its holdings in Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares during the last quarter. Bragg Financial Advisors Inc grew its holdings in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in Deere & Company during the 1st quarter valued at about $13,588,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. Oppenheimer lowered their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Daiwa Capital Markets lowered their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Finally, Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.06.

Deere & Company Price Performance

Shares of DE opened at $465.09 on Tuesday. The company has a 50 day moving average price of $489.05 and a 200-day moving average price of $489.85. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The stock has a market capitalization of $125.73 billion, a PE ratio of 24.31, a PEG ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the company earned $6.29 EPS. The company’s revenue was down 9.0% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

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.