Fairscale Capital LLC Invests $26,000 in Deere & Company (NYSE:DE)

Fairscale Capital LLC bought a new stake in Deere & Company (NYSE:DE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 68 shares of the industrial products company’s stock, valued at approximately $26,000.

A number of other institutional investors have also made changes to their positions in the business. Tompkins Financial Corp increased its position in Deere & Company by 2.6% in the 1st 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 in the last quarter. Field & Main Bank lifted its position in shares of Deere & Company by 0.7% during the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock worth $1,663,000 after purchasing an additional 27 shares in the last quarter. Range Financial Group LLC grew its stake in shares of Deere & Company by 5.2% during the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 27 shares during the last quarter. Cooper Financial Group increased its holdings in shares of Deere & Company by 2.4% in the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 27 shares in the last quarter. Finally, First Foundation Advisors increased its holdings in shares of Deere & Company by 2.3% in the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 28 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $405.89 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month high of $417.46. The firm has a fifty day moving average of $376.24 and a 200-day moving average of $382.88. The firm has a market capitalization of $111.85 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm earned $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio is presently 17.70%.

Analysts Set New Price Targets

A number of research analysts have commented on DE shares. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Citigroup reduced their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $410.50.

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.