HB Wealth Management LLC Boosts Stake in Deere & Company (NYSE:DE)

Key Points

• HB Wealth Management LLC increased its stake in Deere & Company by 67.9% during the 1st quarter, owning 10,968 shares worth approximately $5.15 million as of the latest filing.
• Deere reported a quarterly EPS of $6.64, exceeding analysts' estimates and marking a year-over-year revenue decrease of 17.9%.
• The company announced a quarterly dividend of $1.62 to be paid on August 8th, with a yield of 1.25%. The payout ratio stands at 31.35%.

HB Wealth Management LLC boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 67.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,968 shares of the industrial products company's stock after purchasing an additional 4,435 shares during the quarter. HB Wealth Management LLC's holdings in Deere & Company were worth $5,148,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Nikko Asset Management Americas Inc. grew its holdings in Deere & Company by 120.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 166,099 shares of the industrial products company's stock valued at $77,959,000 after purchasing an additional 90,784 shares during the period. Spectrum Financial Alliance Ltd LLC grew its holdings in Deere & Company by 5.8% in the first quarter. Spectrum Financial Alliance Ltd LLC now owns 52,480 shares of the industrial products company's stock valued at $24,632,000 after purchasing an additional 2,867 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Deere & Company by 0.9% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 54,188 shares of the industrial products company's stock valued at $25,433,000 after acquiring an additional 478 shares during the last quarter. Drive Wealth Management LLC raised its holdings in shares of Deere & Company by 387.0% during the first quarter. Drive Wealth Management LLC now owns 3,458 shares of the industrial products company's stock valued at $1,629,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Firetrail Investments PTY Ltd. raised its holdings in shares of Deere & Company by 3.6% during the first quarter. Firetrail Investments PTY Ltd. now owns 36,495 shares of the industrial products company's stock valued at $17,315,000 after acquiring an additional 1,266 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on DE. Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Barclays increased their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Raymond James Financial increased their target price on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Oppenheimer upped their price target on Deere & Company from $555.00 to $560.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $515.50.

Deere & Company Stock Down 0.3%

NYSE DE traded down $1.39 during trading on Wednesday, reaching $511.11. 390,965 shares of the company's stock were exchanged, compared to its average volume of 1,336,061. The stock has a market cap of $138.42 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 3.24 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a 50 day moving average price of $512.40 and a two-hundred day moving average price of $485.72. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 EPS. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 (DPR) is 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.