Diamant Asset Management Inc. Raises Holdings in Deere & Company $DE

by · The Markets Daily

Diamant Asset Management Inc. increased its stake in shares of Deere & Company (NYSE:DEFree Report) by 56,230.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 610,617 shares of the industrial products company’s stock after acquiring an additional 609,533 shares during the quarter. Deere & Company makes up 1.1% of Diamant Asset Management Inc.’s investment portfolio, making the stock its 18th largest position. Diamant Asset Management Inc.’s holdings in Deere & Company were worth $343,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Strategic Advocates LLC purchased a new stake in shares of Deere & Company during the third quarter valued at approximately $25,000. Key Capital Management INC purchased a new position in shares of Deere & Company in the fourth quarter worth $27,000. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth $29,000. McIlrath & Eck LLC bought a new stake in Deere & Company during the 4th quarter valued at $30,000. Finally, Wealth Watch Advisors INC bought a new stake in Deere & Company during the 3rd quarter valued at $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $613.45 on Friday. The stock has a market cap of $165.59 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. The firm’s fifty day simple moving average is $574.51 and its 200 day simple moving average is $557.28. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the business earned $6.64 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is currently 36.71%.

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

Analyst Ratings Changes

Several equities research analysts have weighed in on DE shares. Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Truist Financial lowered their price objective on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a report on Wednesday, April 8th. Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Read Our Latest Analysis on Deere & Company

About Deere & Company

(Free Report)

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.

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