AE Wealth Management LLC Has $3.56 Million Holdings in Deere & Company (NYSE:DE)

Key Points

• AE Wealth Management LLC increased its position in Deere & Company (NYSE: DE) by 36.7%, owning 7,573 shares valued at $3,555,000 as of their latest SEC filing.
• Analysts have raised their price targets for Deere & Company, with Truist Financial increasing its target from $546.00 to $619.00 while maintaining a "buy" rating.
• The company recently announced a quarterly dividend of $1.62 per share, representing an annualized dividend yield of 1.25%.

AE Wealth Management LLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 36.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,573 shares of the industrial products company's stock after purchasing an additional 2,032 shares during the quarter. AE Wealth Management LLC's holdings in Deere & Company were worth $3,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its stake in Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares during the last quarter. First Bancorp Inc ME lifted its stake in Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 23 shares during the last quarter. World Equity Group Inc. lifted its stake in Deere & Company by 4.5% during the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock valued at $244,000 after purchasing an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in Deere & Company by 2.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after purchasing an additional 25 shares during the last quarter. Finally, Glen Eagle Advisors LLC increased its position in shares of Deere & Company by 0.9% in the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock worth $1,244,000 after acquiring an additional 25 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on DE. Truist Financial lifted their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Citigroup dropped their target price 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. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Oppenheimer set a $560.00 target price on shares of Deere & Company and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $515.50.

Deere & Company Stock Performance

Shares of Deere & Company stock traded up $2.92 on Friday, reaching $517.58. The stock had a trading volume of 858,413 shares, compared to its average volume of 1,107,224. The business's 50-day moving average price is $513.03 and its two-hundred day moving average price is $484.29. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. 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 $140.18 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 3.28 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data 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. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the previous year, the company earned $8.53 earnings per share. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.

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.