Jackson Wealth Management LLC Purchases New Holdings in Deere & Company $DE

Key Points

• Jackson Wealth Management LLC has acquired a new stake in Deere & Company, purchasing 915 shares valued at approximately $465,000 during the 2nd quarter.
• Deere & Company's stock is currently performing with a market cap of $125.05 billion and a current share price of $462.59. The company also plans to pay a quarterly dividend of $1.62 per share on November 10th.
• Analysts have mixed ratings on Deere & Company shares, with a consensus rating of "Moderate Buy" and an average price target of $518.18.

Jackson Wealth Management LLC purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 915 shares of the industrial products company's stock, valued at approximately $465,000.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management raised its position in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC lifted its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company in the 2nd quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 2nd quarter valued at $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DE shares. Evercore ISI set a $491.00 price target on Deere & Company in a research note on Tuesday, August 19th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Robert W. Baird dropped their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Finally, Daiwa Capital Markets dropped their price target on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $518.18.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $462.59 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The business has a 50-day moving average price of $484.64 and a two-hundred day moving average price of $489.09. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a market cap of $125.05 billion, a P/E ratio of 24.18, a PEG ratio of 2.97 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business posted $6.29 EPS. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

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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