Golden State Wealth Management LLC Grows Stock Holdings in Deere & Company (NYSE:DE)

Golden State Wealth Management LLC lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 109.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,224 shares of the industrial products company's stock after purchasing an additional 641 shares during the period. Golden State Wealth Management LLC's holdings in Deere & Company were worth $576,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DE. Orion Capital Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company in the fourth quarter valued at $39,000. Dogwood Wealth Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at $42,000. Wood Tarver Financial Group LLC purchased a new stake in Deere & Company in the fourth quarter valued at $43,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Deere & Company in the fourth quarter valued at $48,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. UBS Group dropped their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $515.19.

Deere & Company Stock Up 0.3%

DE stock opened at $508.34 on Friday. The company has a market cap of $137.67 billion, a P/E ratio of 24.59, a P/E/G ratio of 3.21 and a beta of 1.09. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company's 50-day moving average price is $499.31 and its 200 day moving average price is $472.26. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm's revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.53 earnings per share. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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