Focus Partners Wealth Buys 162,201 Shares of Deere & Company $DE

Focus Partners Wealth lifted its stake in shares of Deere & Company (NYSE:DE) by 592.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 189,558 shares of the industrial products company’s stock after acquiring an additional 162,201 shares during the period. Focus Partners Wealth’s holdings in Deere & Company were worth $88,254,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DE. Norges Bank bought a new stake in shares of Deere & Company during the 4th quarter worth about $1,715,633,000. Capital World Investors boosted its stake in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after acquiring an additional 1,893,972 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after acquiring an additional 1,721,239 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Deere & Company by 278.0% during the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after acquiring an additional 358,687 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $577.05 on Monday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a 50 day moving average of $573.27 and a two-hundred day moving average of $549.31. The company has a market capitalization of $155.77 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.14 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the firm posted $6.64 EPS. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.

Analyst Upgrades and Downgrades

DE has been the subject of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. JPMorgan Chase & Co. increased their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Wells Fargo & Company increased their target price on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Raymond James Financial decreased their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Finally, Truist Financial decreased their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.