Perennial Investment Advisors LLC Invests $559,000 in Deere & Company $DE

Perennial Investment Advisors LLC purchased a new position in Deere & Company (NYSE:DE) during the second quarter, Holdings Channel.com reports. The fund purchased 882 shares of the industrial products company’s stock, valued at approximately $559,000.

Several other institutional investors have also bought and sold shares of DE. Anchyra Partners LLC increased its position in Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. raised its stake in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after buying an additional 17 shares during the period. Advisortrust Partners LLC lifted its position in shares of Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after buying an additional 18 shares during the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $633.36 on Thursday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The company has a market capitalization of $170.97 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90. The company has a fifty day moving average of $610.13 and a 200-day moving average of $592.80.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter last year, the business posted $4.75 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 18.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Oppenheimer lifted their price objective on Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Barclays increased their target price on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday. Raymond James Financial reduced their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Robert W. Baird boosted their price target on shares of Deere & Company from $525.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $653.48.

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.