Deere & Company $DE Stake Increased by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in Deere & Company by 11.4%, now owning 33,683 shares valued at approximately $15.81 million.
• Deere & Company reported $4.75 EPS for the last quarter, exceeding analyst expectations of $4.62, but experienced a 9% decrease in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $1.62 per share scheduled for payment on November 10th, representing an annual yield of 1.4%.

Focus Partners Wealth grew its holdings in Deere & Company (NYSE:DE - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,683 shares of the industrial products company's stock after purchasing an additional 3,443 shares during the period. Focus Partners Wealth's holdings in Deere & Company were worth $15,811,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Flaharty Asset Management LLC purchased a new stake in shares of Deere & Company in the first quarter valued at $47,000. Integrity Alliance LLC. purchased a new stake in shares of Deere & Company during the first quarter worth $6,335,000. Ransom Advisory Ltd purchased a new stake in shares of Deere & Company during the first quarter worth $1,142,000. SageView Advisory Group LLC raised its holdings in shares of Deere & Company by 13.9% during the first quarter. SageView Advisory Group LLC now owns 4,093 shares of the industrial products company's stock worth $1,921,000 after acquiring an additional 500 shares in the last quarter. Finally, Advisory Alpha LLC raised its holdings in shares of Deere & Company by 0.5% during the first quarter. Advisory Alpha LLC now owns 13,101 shares of the industrial products company's stock worth $6,149,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 1.1%

Deere & Company stock opened at $471.35 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a market capitalization of $127.42 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 3.06 and a beta of 1.00. Deere & Company has a one year low of $386.42 and a one year high of $533.78. The company's fifty day moving average price is $497.38 and its two-hundred day moving average price is $490.24.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.29 earnings per share. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DE. Citigroup cut their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Oppenheimer increased their price objective on Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Truist Financial cut their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. cut their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $520.87.

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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