Liberty One Investment Management LLC Has $5.96 Million Holdings in Deere & Company $DE

Liberty One Investment Management LLC grew its position in shares of Deere & Company (NYSE:DE) by 31.5% in the 1st quarter, HoldingsChannel reports. The fund owned 10,588 shares of the industrial products company’s stock after buying an additional 2,537 shares during the period. Liberty One Investment Management LLC’s holdings in Deere & Company were worth $5,964,000 as of its most recent SEC filing.

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

Deere & Company Stock Performance

Shares of DE opened at $610.38 on Friday. 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 $164.77 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.56 and a beta of 0.89. The stock has a 50 day moving average of $583.73 and a 200 day moving average of $575.72. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

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, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.64 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 18.27 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DE shares. Raymond James Financial lowered their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Oppenheimer reissued an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. JPMorgan Chase & Co. raised their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, DA Davidson reaffirmed a “buy” rating and set a $685.00 target price on shares of Deere & Company in a research report on Friday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $642.98.

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.