L & S Advisors Inc Makes New $6.30 Million Investment in Deere & Company $DE

L & S Advisors Inc purchased a new position in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,382 shares of the industrial products company’s stock, valued at approximately $6,296,000.

Other hedge funds also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the second quarter valued at approximately $25,000. Activest Wealth Management lifted its position in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the 2nd quarter valued at $38,000. Center for Financial Planning Inc. increased its holdings in Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after buying an additional 61 shares in the last quarter. Finally, Livelsberger Financial Advisory purchased 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.

Deere & Company Trading Down 1.5%

DE stock opened at $473.54 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. Deere & Company has a 1-year low of $387.79 and a 1-year high of $533.78. The business has a 50 day simple moving average of $465.98 and a two-hundred day simple moving average of $490.57. The company has a market capitalization of $128.01 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating 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 company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the company posted $6.29 earnings per share. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were issued 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 of this dividend was Tuesday, September 30th. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Oppenheimer lowered their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. Wolfe Research cut 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 report on Friday, October 3rd. Royal Bank Of Canada began coverage on shares of Deere & Company in a research report on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 price target on the stock. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $520.00.

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.