GC Wealth Management RIA LLC Has $1.68 Million Stock Position in Deere & Company $DE

Key Points

• GC Wealth Management RIA LLC increased its stake in Deere & Company by 170.6% during the second quarter, holding a position worth approximately $1.68 million after acquiring additional shares.
• Several institutional investors have also reported increases in their stakes, with Vanguard Group Inc. owning over 22 million shares valued at approximately $10.36 billion.
• Deere & Company announced a quarterly dividend of $1.62 per share, with an annual yield of 1.4%, while its recent earnings showed a decline in revenue compared to the previous year.

GC Wealth Management RIA LLC boosted its position in Deere & Company (NYSE:DE - Free Report) by 170.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,296 shares of the industrial products company's stock after buying an additional 2,078 shares during the quarter. GC Wealth Management RIA LLC's holdings in Deere & Company were worth $1,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Vanguard Group Inc. boosted its stake in Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after purchasing an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company's stock valued at $852,254,000 after purchasing an additional 35,075 shares during the period. Charles Schwab Investment Management Inc. grew its position in Deere & Company by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock worth $727,046,000 after purchasing an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock worth $635,150,000 after purchasing an additional 256,806 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DE shares. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday. Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Oppenheimer cut their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Finally, Truist Financial decreased their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $518.06.

Deere & Company Price Performance

Shares of DE stock opened at $465.09 on Tuesday. The stock's fifty day simple moving average is $489.05 and its 200 day simple moving average is $489.85. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The firm has a market cap of $125.73 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the business earned $6.29 earnings per share. The business's revenue was down 9.0% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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.

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