13,591 Shares in Deere & Company $DE Bought by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management initiated a Deere & Company position by purchasing 13,591 shares valued at approximately $8.6 million. Institutional investors collectively own 68.58% of Deere’s outstanding stock.
• Deere shares opened at $630.66, up 1.3%, while the company reported quarterly EPS of $5.10 and revenue of $12.61 billion—beating analyst expectations and marking 6.2% year-over-year revenue growth.
• Deere declared a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 dividend and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $653.48.

Kingsview Wealth Management LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 13,591 shares of the industrial products company's stock, valued at approximately $8,621,000.

Several other institutional investors have also bought and sold shares of DE. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Deere & Company during the second quarter valued at $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter valued at about $29,000. Kilter Group LLC bought a new position in shares of Deere & Company in the 2nd quarter worth $29,000. McIlrath & Eck LLC bought a new position in Deere & Company during the 4th quarter worth approximately $30,000. Finally, Solstein Capital LLC acquired a new stake in Deere & Company during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 1.3%

DE stock opened at $630.66 on Friday. The firm has a market capitalization of $170.24 billion, a PE ratio of 35.04, a PEG ratio of 2.57 and a beta of 0.90. The business's 50 day simple moving average is $611.59 and its 200 day simple moving average is $593.34. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. Deere & Company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.75 EPS. As a group, research analysts anticipate that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is presently 36.00%.

Analysts Set New Price Targets

Several analysts have commented on DE shares. Truist Financial dropped their target price on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a report on Monday. DA Davidson boosted their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Oppenheimer increased their target price on shares of Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a report on Thursday, August 20th. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research report on Friday, August 14th. Finally, Bank of America lowered their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $653.48.

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.

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