Appian Way Asset Management LP Invests $2.62 Million in Deere & Company (NYSE:DE)

Appian Way Asset Management LP acquired a new stake in shares of Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,000 shares of the industrial products company’s stock, valued at approximately $2,615,000. Deere & Company comprises 0.7% of Appian Way Asset Management LP’s holdings, making the stock its 27th biggest holding.

A number of other institutional investors have also recently modified their holdings of the stock. True Wealth Design LLC lifted its holdings in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the second quarter worth approximately $26,000. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new position in Deere & Company during the fourth quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management purchased a new stake in Deere & Company in the fourth quarter worth approximately $33,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DE has been the topic of several research analyst reports. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI raised their target price 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. Citigroup cut their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $410.50.

Deere & Company Price Performance

DE stock opened at $408.83 on Tuesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company’s fifty day moving average price is $376.98 and its 200-day moving average price is $383.12. Deere & Company has a one year low of $340.20 and a one year high of $417.46. The company has a market capitalization of $112.66 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating 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 business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. The business’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 EPS. On average, equities analysts anticipate that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

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.