BNC Wealth Management LLC Acquires 8,435 Shares of Deere & Company (NYSE:DE)

BNC Wealth Management LLC raised its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1,396.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,039 shares of the industrial products company's stock after buying an additional 8,435 shares during the period. Deere & Company makes up 1.5% of BNC Wealth Management LLC's portfolio, making the stock its 20th biggest position. BNC Wealth Management LLC's holdings in Deere & Company were worth $4,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in shares of Deere & Company by 2.0% in the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock worth $33,165,000 after purchasing an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC raised its holdings in shares of Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock worth $21,021,000 after purchasing an additional 1,407 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $847,000. Finally, BankPlus Trust Department bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $1,127,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Down 1.5%

DE traded down $7.82 during trading on Friday, reaching $509.04. 824,497 shares of the stock traded hands, compared to its average volume of 1,393,748. The stock's 50-day simple moving average is $487.24 and its two-hundred day simple moving average is $468.53. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock has a market cap of $137.86 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business's quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the business earned $8.53 EPS. As a group, equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on DE shares. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Oppenheimer boosted their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. BMO Capital Markets restated a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $515.19.

Deere & 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.