Deere & Company $DE Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC increased its holdings in Deere & Company (NYSE:DE) by 13.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,233 shares of the industrial products company’s stock after acquiring an additional 1,757 shares during the period. HB Wealth Management LLC’s holdings in Deere & Company were worth $8,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PFG Investments LLC increased its position in shares of Deere & Company by 2.0% during the 1st quarter. PFG Investments LLC now owns 5,995 shares of the industrial products company’s stock worth $3,377,000 after purchasing an additional 120 shares during the last quarter. BIP Wealth LLC lifted its position in Deere & Company by 18.5% in the first quarter. BIP Wealth LLC now owns 628 shares of the industrial products company’s stock valued at $354,000 after buying an additional 98 shares during the last quarter. World Investment Advisors lifted its position in Deere & Company by 6.0% in the first quarter. World Investment Advisors now owns 3,608 shares of the industrial products company’s stock valued at $2,032,000 after buying an additional 205 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its stake in Deere & Company by 3.2% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 4,405 shares of the industrial products company’s stock worth $2,481,000 after buying an additional 135 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Deere & Company by 0.7% during the first quarter. New York State Teachers Retirement System now owns 188,232 shares of the industrial products company’s stock worth $106,031,000 after buying an additional 1,282 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.0%

Shares of DE opened at $621.09 on Friday. The company’s 50-day simple moving average is $578.41 and its 200-day simple moving average is $562.69. 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 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market capitalization of $167.66 billion, a PE ratio of 35.19, a P/E/G ratio of 2.30 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced 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. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.64 earnings per share. Analysts forecast that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DE. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday. Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Barclays lifted their target price on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. boosted their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Finally, Raymond James Financial decreased their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $642.23.

Deere & Company Company Profile

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.