Deere & Company (NYSE:DE) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 34.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,606 shares of the industrial products company's stock after purchasing an additional 1,187 shares during the quarter. Ritholtz Wealth Management's holdings in Deere & Company were worth $2,162,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DE. Orion Capital Management LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $42,000. Sierra Ocean LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $44,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in Deere & Company during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Baird R W downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup lowered their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Truist Financial upped their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, DA Davidson reissued a "buy" rating and set a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $515.19.

Deere & Company Stock Performance

NYSE DE traded up $5.81 during trading hours on Wednesday, reaching $528.93. The company's stock had a trading volume of 170,555 shares, compared to its average volume of 1,387,094. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The business has a 50-day simple moving average of $490.87 and a 200 day simple moving average of $469.33. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The stock has a market cap of $143.25 billion, a PE ratio of 25.62, a PEG ratio of 3.33 and a beta of 1.09.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's 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.