NEOS Investment Management LLC Grows Stock Holdings in Deere & Company $DE

NEOS Investment Management LLC grew its holdings in Deere & Company (NYSE:DE) by 14.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,169 shares of the industrial products company’s stock after buying an additional 5,082 shares during the period. NEOS Investment Management LLC’s holdings in Deere & Company were worth $26,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Deere & Company during the second quarter worth approximately $27,000. Kilter Group LLC bought a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $29,000. Solstein Capital LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $30,000. Orion Capital Management LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $32,000. Finally, Portus Wealth Advisors LLC bought a new position in shares of Deere & Company during the 1st quarter valued at approximately $32,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 0.2%

NYSE:DE opened at $692.68 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $705.88. The company has a market cap of $186.76 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The stock has a fifty day simple moving average of $619.13 and a 200-day simple moving average of $596.29. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.75 earnings per share. Analysts anticipate that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. Deere & Company’s payout ratio is presently 36.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on DE. Barclays increased their price target on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Citigroup increased their target price on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Nomura upgraded shares of Deere & Company to a “buy” rating in a report on Monday. DA Davidson lifted their price target on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Finally, Evercore upgraded shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target on the stock in a report on Wednesday. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $680.73.

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.