Bartlett & CO. Wealth Management LLC Increases Holdings in Deere & Company $DE

Key Points

• Bartlett & CO. Wealth Management LLC increased its stake in Deere & Company by 0.4% in Q2, now holding 197,948 shares valued at $100.96 million.
• Multiple hedge funds have also increased their positions in Deere, with Brighton Jones LLC raising its stake by 39.1% in the last quarter.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, with an annual yield of 1.4%, set to be paid on November 10th.

Bartlett & CO. Wealth Management LLC increased its stake in Deere & Company (NYSE:DE - Free Report) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 197,948 shares of the industrial products company's stock after purchasing an additional 722 shares during the quarter. Deere & Company comprises about 1.4% of Bartlett & CO. Wealth Management LLC's holdings, making the stock its 19th largest position. Bartlett & CO. Wealth Management LLC owned 0.07% of Deere & Company worth $100,959,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in DE. Brighton Jones LLC grew its position in shares of Deere & Company by 39.1% in the fourth 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 in the last quarter. Baker Tilly Wealth Management LLC grew its position in shares of Deere & Company by 5.8% in the first quarter. Baker Tilly Wealth Management LLC now owns 672 shares of the industrial products company's stock valued at $315,000 after purchasing an additional 37 shares in the last quarter. Fiduciary Alliance LLC grew its position in shares of Deere & Company by 4.1% in the first quarter. Fiduciary Alliance LLC now owns 1,506 shares of the industrial products company's stock valued at $707,000 after purchasing an additional 59 shares in the last quarter. Fragasso Financial Advisors Inc grew its position in shares of Deere & Company by 4.8% in the first quarter. Fragasso Financial Advisors Inc now owns 1,080 shares of the industrial products company's stock valued at $507,000 after purchasing an additional 49 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its position in shares of Deere & Company by 2.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,475 shares of the industrial products company's stock valued at $692,000 after purchasing an additional 35 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DE shares. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Oppenheimer reduced their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research report on Thursday, September 18th. Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. JPMorgan Chase & Co. reduced their target price on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research report on Tuesday, September 2nd. Finally, Truist Financial reduced their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average target price of $518.06.

Deere & Company Price Performance

DE opened at $456.78 on Wednesday. The stock has a 50-day moving average price of $488.06 and a 200-day moving average price of $489.62. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $123.48 billion, a P/E ratio of 23.88, a PEG ratio of 2.99 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $10.33 billion. During the same period in the prior year, the business earned $6.29 EPS. The company's revenue for the quarter was down 9.0% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio is currently 33.87%.

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.

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