Silverlake Wealth Management LLC Makes New Investment in Deere & Company $DE

Silverlake Wealth Management LLC acquired a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,565 shares of the industrial products company’s stock, valued at approximately $993,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in Deere & Company in the second quarter valued at $1,259,279,000. Focus Partners Advisor Solutions LLC acquired a new stake in Deere & Company in the 2nd quarter worth about $6,149,000. ABN AMRO Bank N.V. acquired a new stake in Deere & Company in the 2nd quarter worth about $21,742,000. Summit Asset Management LLC purchased a new stake in Deere & Company in the 2nd quarter valued at about $2,617,000. Finally, S&CO Inc. purchased a new stake in Deere & Company in the 2nd quarter valued at about $545,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Oppenheimer restated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. JPMorgan Chase & Co. dropped their price target on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $641.98.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $608.73 on Friday. The firm has a market capitalization of $164.32 billion, a PE ratio of 34.49, a P/E/G ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The business has a 50-day moving average of $603.23 and a two-hundred day moving average of $587.77. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $6.64 EPS. As a group, research analysts forecast that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

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

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.