Allen Mooney & Barnes Investment Advisors LLC Increases Stock Position in Deere & Company (NYSE:DE)

Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in Deere & Company (NYSE:DE) by 16.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,077 shares of the industrial products company’s stock after purchasing an additional 153 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Deere & Company were worth $444,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Tompkins Financial Corp increased its position in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 25 shares during the last quarter. Essex Savings Bank grew its holdings in shares of Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 26 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares in the last quarter. Finally, Simplicity Solutions LLC grew its holdings in shares of Deere & Company by 0.5% in the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.8 %

DE stock opened at $378.17 on Tuesday. The company has a fifty day moving average price of $387.23 and a 200 day moving average price of $387.04. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The company has a market cap of $104.21 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the prior year, the firm earned $9.65 EPS. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.55%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Morgan Stanley lifted their price objective on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. TD Cowen boosted their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, DA Davidson lowered their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $433.36.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.