6,752 Shares in Deere & Company $DE Acquired by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC bought a new stake in Deere & Company (NYSE:DE) during the 1st quarter, HoldingsChannel reports. The fund bought 6,752 shares of the industrial products company’s stock, valued at approximately $3,803,000.

Several other hedge funds have also recently added to or reduced their stakes in DE. Strategic Advocates LLC bought a new position in shares of Deere & Company in the third quarter worth $25,000. Key Capital Management INC bought a new stake in shares of Deere & Company during the fourth quarter valued at about $27,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at about $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in Deere & Company in the third quarter worth about $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $590.37 on Monday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a market cap of $159.36 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. The company’s 50-day moving average price is $573.71 and its two-hundred day moving average price is $553.26.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $6.64 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Wolfe Research upped their price target on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Citigroup reduced their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Finally, Bank of America cut their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $639.58.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.