Spectrum Financial Alliance Ltd LLC Increases Position in Deere & Company $DE

Spectrum Financial Alliance Ltd LLC raised its stake in shares of Deere & Company (NYSE:DE) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 88,561 shares of the industrial products company’s stock after purchasing an additional 3,210 shares during the period. Deere & Company makes up approximately 9.6% of Spectrum Financial Alliance Ltd LLC’s portfolio, making the stock its 5th biggest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Deere & Company were worth $49,887,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Vanguard Group Inc. grew its holdings in Deere & Company by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after buying an additional 198,332 shares in the last quarter. State Street Corp lifted its stake in Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after acquiring an additional 97,049 shares in the last quarter. Capital World Investors boosted its holdings in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after acquiring an additional 158,584 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Deere & Company by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after acquiring an additional 17,269 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on DE shares. Wolfe Research raised their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Citigroup decreased their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. DA Davidson cut their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Finally, Bank of America decreased 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 equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $642.23.

Deere & Company Stock Performance

Shares of DE stock traded down $5.54 during trading on Friday, reaching $587.36. 782,098 shares of the company’s stock traded hands, compared to its average volume of 1,174,307. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm’s 50-day moving average is $581.74 and its 200 day moving average is $566.99. 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 company has a market capitalization of $158.55 billion, a P/E ratio of 33.28, a PEG ratio of 2.19 and a beta of 0.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $6.64 EPS. Equities research analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Deere & Company News Summary

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Deere & Company Profile

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.