Creekmur Asset Management LLC Purchases 640 Shares of Deere & Company $DE

Creekmur Asset Management LLC boosted its position in shares of Deere & Company (NYSE:DE) by 34.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,521 shares of the industrial products company’s stock after purchasing an additional 640 shares during the period. Creekmur Asset Management LLC’s holdings in Deere & Company were worth $1,282,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. lifted its holdings in Deere & Company by 1.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock valued at $2,379,000 after purchasing an additional 45 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in Deere & Company by 31.1% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,561 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 370 shares during the last quarter. Strs Ohio lifted its holdings in Deere & Company by 7.3% during the 2nd quarter. Strs Ohio now owns 63,246 shares of the industrial products company’s stock valued at $32,160,000 after purchasing an additional 4,322 shares during the last quarter. Adell Harriman & Carpenter Inc. lifted its holdings in Deere & Company by 7.8% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 496 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 36 shares during the last quarter. Finally, Prairie Wealth Advisors Inc. lifted its holdings in Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 20 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 1.6%

DE opened at $465.99 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a market cap of $125.97 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. The firm has a 50 day simple moving average of $468.41 and a 200 day simple moving average of $489.53. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.29 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Wolfe Research dropped their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Truist Financial boosted their target price on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Citigroup dropped their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $518.72.

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.