Deere & Company (NYSE:DE) Stock Holdings Boosted by Drive Wealth Management LLC

Key Points

• Drive Wealth Management LLC dramatically increased its stake in Deere & Company by 387%, acquiring 2,748 additional shares to hold a total of 3,458 shares valued at approximately $1.63 million.
• Analysts have a mixed outlook on Deere & Company, with ratings ranging from a sell to a strong buy, and an average price target of $515.50.
• Deere & Company recently reported an EPS of $6.64, exceeding expectations, alongside a quarterly dividend announcement of $1.62 to be paid on August 8th.

Drive Wealth Management LLC lifted its holdings in Deere & Company (NYSE:DE - Free Report) by 387.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,458 shares of the industrial products company's stock after acquiring an additional 2,748 shares during the quarter. Drive Wealth Management LLC's holdings in Deere & Company were worth $1,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Capital World Investors lifted its stake in shares of Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after buying an additional 157,224 shares in the last quarter. FMR LLC raised its stake in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC raised its stake in Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the period. Finally, Norges Bank acquired a new stake in shares of Deere & Company during the fourth quarter valued at about $1,244,094,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Up 0.6%

DE stock traded up $2.92 during midday trading on Friday, reaching $517.58. 858,413 shares of the company's stock traded hands, compared to its average volume of 1,107,224. The company has a market capitalization of $140.18 billion, a P/E ratio of 25.04, a PEG ratio of 3.28 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The business has a 50-day moving average price of $513.03 and a two-hundred day moving average price of $484.29.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS 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 for the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the previous year, the company posted $8.53 earnings per share. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DE shares. Evercore ISI lifted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Morgan Stanley boosted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. UBS Group lowered their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird boosted their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. 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.com, the company has an average rating of "Hold" and an average target price of $515.50.

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.