Sagespring Wealth Partners LLC Has $2.21 Million Stock Holdings in Deere & Company (NYSE:DE)

Sagespring Wealth Partners LLC increased its stake in Deere & Company (NYSE:DE - Free Report) by 27.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,715 shares of the industrial products company's stock after acquiring an additional 1,007 shares during the period. Sagespring Wealth Partners LLC's holdings in Deere & Company were worth $2,213,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company during the fourth quarter valued at about $39,000. Dogwood Wealth Management LLC acquired a new position in Deere & Company during the fourth quarter worth about $42,000. Sierra Ocean LLC bought a new stake in Deere & Company in the fourth quarter worth about $44,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Down 0.3%

Shares of DE stock traded down $1.36 during trading on Tuesday, hitting $523.08. 862,514 shares of the company were exchanged, compared to its average volume of 1,391,173. The business's 50-day simple moving average is $489.49 and its 200 day simple moving average is $468.95. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The firm has a market capitalization of $141.66 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results 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 net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the business posted $8.53 EPS. The company's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company 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 $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.24%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DE shares. Morgan Stanley lifted their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. Truist Financial increased their price objective on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Evercore ISI upped their target price on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $515.19.

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.