Ritholtz Wealth Management Purchases 1,043 Shares of Deere & Company $DE

Key Points

• Ritholtz Wealth Management increased its holdings in Deere & Company, acquiring 1,043 shares for a total of 5,649 shares, representing a 22.6% increase in their position during the second quarter.
• Deere & Company reported $4.75 earnings per share, surpassing analysts' estimates of $4.62, but experienced a 9.0% revenue decline year-over-year.
• The company declared a quarterly dividend of $1.62 per share, with a dividend yield of 1.4%, to be paid on November 10th to shareholders of record as of September 30th.

Ritholtz Wealth Management grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 22.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,649 shares of the industrial products company's stock after acquiring an additional 1,043 shares during the quarter. Ritholtz Wealth Management's holdings in Deere & Company were worth $2,873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. boosted its position in shares of Deere & Company by 7.7% during the 2nd quarter. Harbour Investments Inc. now owns 6,484 shares of the industrial products company's stock valued at $3,297,000 after acquiring an additional 466 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Deere & Company by 1.8% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,632 shares of the industrial products company's stock valued at $2,355,000 after buying an additional 80 shares during the period. JGP Wealth Management LLC lifted its position in Deere & Company by 1.4% in the second quarter. JGP Wealth Management LLC now owns 3,249 shares of the industrial products company's stock worth $1,652,000 after buying an additional 44 shares during the last quarter. Cypress Wealth Services LLC bought a new stake in Deere & Company in the second quarter worth $542,000. Finally, CGC Financial Services LLC lifted its position in Deere & Company by 11.6% in the second quarter. CGC Financial Services LLC now owns 414 shares of the industrial products company's stock worth $211,000 after buying an additional 43 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE stock opened at $448.62 on Thursday. 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's fifty day simple moving average is $475.28 and its two-hundred day simple moving average is $487.71. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The firm has a market cap of $121.28 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.88 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last released its 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. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm posted $6.29 earnings per share. The business's revenue was down 9.0% compared to the same quarter last year. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DE shares. Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. Wolfe Research lowered their price target on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. DA Davidson lowered their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Oppenheimer lowered their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research report on Thursday, September 18th. Finally, Truist Financial raised their price target on Deere & Company from $602.00 to $609.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $511.76.

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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