Alamar Capital Management LLC Makes New Investment in Deere & Company $DE

Alamar Capital Management LLC acquired a new stake in Deere & Company (NYSE:DE) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 840 shares of the industrial products company’s stock, valued at approximately $475,000.

Other institutional investors have also recently modified their holdings of the company. Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company during the 1st quarter worth approximately $32,000. Key Capital Management INC acquired a new position in Deere & Company during the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new stake in Deere & Company during the fourth quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new stake in Deere & Company during the third quarter worth $32,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $607.63 on Thursday. The firm has a market cap of $164.02 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. The firm’s fifty day moving average is $583.01 and its 200-day moving average is $574.70. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the business posted $6.64 earnings per share. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 18.27 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DE shares. Oppenheimer reiterated an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Citigroup raised their price objective on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Robert W. Baird lowered their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $642.98.

About Deere & Company

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.