Ashton Thomas Private Wealth LLC Has $4.05 Million Stock Position in Deere & Company $DE

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Deere & Company by 11.1%, owning 8,605 shares valued at $4,053,000 as of the latest SEC filing.
• Deere & Company reported quarterly earnings of $4.75 EPS, exceeding analysts' expectations of $4.62 EPS, while revenue decreased by 9% year-over-year to $10.36 billion.
• The company declared a quarterly dividend of $1.62 per share, with an annualized yield of 1.3%, payable on November 10th to investors recorded by September 30th.

Ashton Thomas Private Wealth LLC increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,605 shares of the industrial products company's stock after acquiring an additional 857 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Deere & Company were worth $4,053,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its position in shares of Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after purchasing an additional 21 shares in the last quarter. Tyler Stone Wealth Management lifted its stake in Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after purchasing an additional 21 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Deere & Company by 2.4% in the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after purchasing an additional 22 shares during the last quarter. Hayek Kallen Investment Management increased its holdings in Deere & Company by 1.7% during the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock valued at $610,000 after buying an additional 22 shares during the period. Finally, First Bancorp Inc ME lifted its stake in shares of Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after buying an additional 23 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.0%

Shares of NYSE DE traded up $4.89 on Thursday, hitting $476.24. The company had a trading volume of 1,368,492 shares, compared to its average volume of 1,478,417. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $383.10 and a 12-month high of $533.78. The business has a 50 day moving average of $499.13 and a two-hundred day moving average of $490.41. The firm has a market capitalization of $128.74 billion, a P/E ratio of 24.89, a PEG ratio of 3.03 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company posted $6.29 EPS. The firm's quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities research analysts forecast 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 will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's payout ratio is presently 33.87%.

Analyst Ratings Changes

DE has been the topic of a number of analyst reports. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research report on Tuesday, September 2nd. Citigroup cut their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $520.87.

About Deere & Company

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.