Magnolia Capital Advisors LLC Makes New Investment in Deere & Company (NYSE:DE)

Magnolia Capital Advisors LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,645 shares of the industrial products company’s stock, valued at approximately $615,000.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC boosted its stake in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the 2nd quarter valued at $26,000. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 4th quarter valued at $30,000. Finally, Spartan Planning & Wealth Management purchased a new position in shares of Deere & Company during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $417.33 on Tuesday. The company has a 50 day moving average price of $380.26 and a 200-day moving average price of $384.41. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $419.63. The stock has a market capitalization of $115.00 billion, a PE ratio of 12.56, a PEG ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the company earned $10.20 EPS. The company’s revenue was down 20.3% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

DE has been the topic of a number of analyst reports. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Citigroup lowered 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. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average 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.