Northwestern Mutual Wealth Management Co. Buys 1,567 Shares of Deere & Company $DE

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Deere & Company by 1.5%, acquiring an additional 1,567 shares, bringing its total to 107,505 shares valued at approximately $50.46 million.
• Deere announced a quarterly dividend of $1.62 per share, which results in an annualized basis of $6.48 and a dividend yield of 1.3%.
• The company's latest earnings report revealed an earnings per share of $4.75, which exceeded analysts' expectations, although revenue declined 9% compared to the same quarter last year.

Northwestern Mutual Wealth Management Co. raised its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 107,505 shares of the industrial products company's stock after acquiring an additional 1,567 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Deere & Company were worth $50,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Trinity Legacy Partners LLC bought a new position in Deere & Company during the 1st quarter valued at about $4,160,000. Douglass Winthrop Advisors LLC grew its stake in shares of Deere & Company by 0.9% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 279,726 shares of the industrial products company's stock valued at $131,289,000 after purchasing an additional 2,422 shares during the period. Allstate Corp grew its stake in shares of Deere & Company by 24.3% during the 1st quarter. Allstate Corp now owns 9,648 shares of the industrial products company's stock valued at $4,528,000 after purchasing an additional 1,889 shares during the period. Purus Wealth Management LLC grew its stake in shares of Deere & Company by 3.2% during the 1st quarter. Purus Wealth Management LLC now owns 3,530 shares of the industrial products company's stock valued at $1,657,000 after purchasing an additional 109 shares during the period. Finally, Mccarter Private Wealth Services LLC grew its stake in shares of Deere & Company by 0.6% during the 1st quarter. Mccarter Private Wealth Services LLC now owns 4,930 shares of the industrial products company's stock valued at $2,314,000 after purchasing an additional 31 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE DE opened at $495.0920 on Friday. The firm has a market cap of $134.08 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 3.17 and a beta of 1.06. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a 50-day moving average price of $508.58 and a 200-day moving average price of $490.59. Deere & Company has a twelve month low of $374.46 and a twelve month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.29 earnings per share. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company's dividend payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DE shares. DA Davidson cut their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Robert W. Baird reduced their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Bank of America increased their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $523.87.

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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