Barnes Dennig Private Wealth Management LLC Invests $2 Million in Deere & Company (NYSE:DE)

Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,266 shares of the industrial products company's stock, valued at approximately $2,002,000. Deere & Company makes up 3.0% of Barnes Dennig Private Wealth Management LLC's portfolio, making the stock its 12th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after purchasing an additional 5,053 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Deere & Company during the 4th quarter worth $847,000. Stenger Family Office LLC acquired a new position in Deere & Company in the 4th quarter worth $3,144,000. First Business Financial Services Inc. purchased a new position in Deere & Company in the 4th quarter valued at about $4,254,000. Finally, Westpac Banking Corp grew its stake in shares of Deere & Company by 17.9% during the fourth quarter. Westpac Banking Corp now owns 11,904 shares of the industrial products company's stock valued at $5,044,000 after acquiring an additional 1,809 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE traded up $0.37 on Tuesday, reaching $508.86. The company had a trading volume of 1,375,162 shares, compared to its average volume of 1,358,416. The company has a market capitalization of $137.81 billion, a P/E ratio of 24.62, a PEG ratio of 3.26 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company has a fifty day moving average of $501.87 and a 200-day moving average of $473.62. Deere & Company has a one year low of $340.20 and a one year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.53 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group reduced their price target on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Oppenheimer increased their target price on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Evercore ISI boosted their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $515.19.

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.