49 Wealth Management LLC Invests $924,000 in Deere & Company (NYSE:DE)

49 Wealth Management LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,213 shares of the industrial products company’s stock, valued at approximately $924,000.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Smithfield Trust Co increased its holdings in shares of Deere & Company by 3.2% in the 3rd quarter. Smithfield Trust Co now owns 4,866 shares of the industrial products company’s stock worth $2,030,000 after acquiring an additional 150 shares during the period. Pacer Advisors Inc. increased its stake in shares of Deere & Company by 2.3% in the third quarter. Pacer Advisors Inc. now owns 18,998 shares of the industrial products company’s stock valued at $7,928,000 after purchasing an additional 425 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in shares of Deere & Company by 435.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 15,108 shares of the industrial products company’s stock valued at $6,305,000 after buying an additional 12,285 shares during the last quarter. Tradewinds LLC. boosted its position in shares of Deere & Company by 5.8% during the third quarter. Tradewinds LLC. now owns 14,814 shares of the industrial products company’s stock worth $6,182,000 after buying an additional 813 shares during the period. Finally, SSI Investment Management LLC bought a new position in Deere & Company in the 3rd quarter worth approximately $200,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DE shares. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Citigroup raised their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

NYSE DE opened at $436.28 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market capitalization of $119.37 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. The company has a 50 day simple moving average of $405.95 and a 200-day simple moving average of $386.18. Deere & Company has a 52-week low of $340.20 and a 52-week high of $442.05.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the business posted $8.26 EPS. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.