Empowered Funds LLC Invests $15.64 Million in Deere & Company $DE

Empowered Funds LLC bought a new position in shares of Deere & Company (NYSE:DE) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,650 shares of the industrial products company’s stock, valued at approximately $15,636,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Deere & Company in the second quarter worth $27,000. Kilter Group LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $29,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $29,000. McIlrath & Eck LLC acquired a new position in Deere & Company in the fourth quarter valued at about $30,000. Finally, Solstein Capital LLC acquired a new position in Deere & Company during the second quarter valued at approximately $30,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on DE shares. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, August 24th. Oppenheimer upped their price target on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Citigroup lifted their target price on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Bank of America cut their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, DA Davidson lifted their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $653.48.

Deere & Company Stock Performance

Deere & Company stock opened at $630.66 on Friday. The business has a 50 day moving average of $611.59 and a 200-day moving average of $593.34. The company has a market capitalization of $170.24 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the prior year, the business posted $4.75 earnings per share. Deere & Company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

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

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.