Deere & Company (NYSE:DE) Shares Acquired by Wealth Effects LLC

by · The Markets Daily

Wealth Effects LLC increased its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 800 shares of the industrial products company’s stock after buying an additional 75 shares during the quarter. Wealth Effects LLC’s holdings in Deere & Company were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in DE. Essex Savings Bank raised its holdings in shares of Deere & Company by 0.5% in the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. raised its holdings in shares of Deere & Company by 1.5% in the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the period. Liberty One Investment Management LLC raised its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Liberty One Investment Management LLC now owns 6,016 shares of the industrial products company’s stock valued at $2,579,000 after buying an additional 27 shares during the period. Finally, SageView Advisory Group LLC raised its holdings in shares of Deere & Company by 2.4% during the 3rd quarter. SageView Advisory Group LLC now owns 1,201 shares of the industrial products company’s stock valued at $453,000 after buying an additional 28 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on DE shares. Citigroup dropped their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Evercore ISI raised their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Finally, Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $433.28.

Get Our Latest Stock Analysis on DE

Deere & Company Stock Performance

Shares of DE traded down $6.19 during mid-day trading on Friday, hitting $406.65. The stock had a trading volume of 358,402 shares, compared to its average volume of 1,476,113. The company has a market cap of $113.20 billion, a PE ratio of 11.86, a PEG ratio of 1.55 and a beta of 1.04. The company’s fifty day simple moving average is $384.62 and its two-hundred day simple moving average is $382.29. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE – Get Free Report) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.55 EPS. On average, equities analysts expect that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio is currently 17.12%.

About Deere & Company

(Free Report)

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.

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