Friedenthal Financial Acquires Shares of 1,898 Deere & Company $DE

Friedenthal Financial acquired a new stake in Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,898 shares of the industrial products company’s stock, valued at approximately $965,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Activest Wealth Management lifted its position in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC lifted its position in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in Deere & Company in the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the second quarter valued at approximately $39,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DE. Robert W. Baird decreased their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Saturday, September 27th. Daiwa Capital Markets decreased their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. DA Davidson decreased their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $518.18.

Deere & Company Trading Up 0.8%

Shares of DE opened at $461.08 on Wednesday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company’s fifty day moving average is $482.54 and its 200 day moving average is $488.94. The stock has a market capitalization of $124.64 billion, a PE ratio of 24.10, a P/E/G ratio of 2.94 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.29 earnings per share. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

About Deere & Company

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.