529 Shares in Deere & Company (NYSE:DE) Bought by Leith Wheeler Investment Counsel Ltd.

Key Points

• Leith Wheeler Investment Counsel Ltd. purchased 529 shares of Deere & Company valued at approximately $248,000 in the first quarter.
• Deere & Company reported $6.64 earnings per share for the quarter, significantly beating analysts' estimates of $5.72, with revenue of $11.17 billion.
• The company announced a quarterly dividend of $1.62 per share, representing an annualized dividend yield of 1.3%.

Leith Wheeler Investment Counsel Ltd. bought a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 529 shares of the industrial products company's stock, valued at approximately $248,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Deere & Company by 14.4% in the 4th quarter. Townsquare Capital LLC now owns 7,272 shares of the industrial products company's stock valued at $3,081,000 after purchasing an additional 918 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Deere & Company by 0.3% in the 4th quarter. CreativeOne Wealth LLC now owns 10,625 shares of the industrial products company's stock valued at $4,502,000 after purchasing an additional 27 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $906,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $1,763,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock opened at $506.07 on Wednesday. Deere & Company has a 1 year low of $346.00 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock's 50 day moving average price is $512.30 and its 200 day moving average price is $489.69. The firm has a market cap of $137.06 billion, a P/E ratio of 24.48, a PEG ratio of 3.21 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the company earned $8.53 EPS. Deere & Company's revenue was down 17.9% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company's dividend payout ratio is presently 31.35%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research reports. Oppenheimer boosted their target price on Deere & Company from $555.00 to $560.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley boosted their price target on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Citigroup dropped their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and an average price target of $523.93.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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