NewEdge Wealth LLC Purchases 2,002 Shares of Deere & Company $DE

NewEdge Wealth LLC boosted its holdings in Deere & Company (NYSE:DE) by 55.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,628 shares of the industrial products company’s stock after purchasing an additional 2,002 shares during the period. NewEdge Wealth LLC’s holdings in Deere & Company were worth $2,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Csenge Advisory Group lifted its holdings in Deere & Company by 84.9% in the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock worth $3,402,000 after buying an additional 3,416 shares during the period. Spectrum Financial Alliance Ltd LLC grew its stake in shares of Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after purchasing an additional 30,553 shares during the period. Compagnie Lombard Odier SCmA increased its position in Deere & Company by 66.1% in the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock worth $12,606,000 after buying an additional 10,974 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in Deere & Company by 263.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company’s stock worth $7,942,000 after buying an additional 12,551 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Deere & Company by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after buying an additional 2,702 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Citigroup dropped their price target on Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research report on Monday, March 9th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a research report on Wednesday, April 8th. Sanford C. Bernstein raised their target price on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $715.00 price objective on shares of Deere & Company in a research note on Friday, February 20th. Finally, Robert W. Baird cut their price target on shares of Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $655.45.

Deere & Company Trading Up 0.1%

DE opened at $589.14 on Wednesday. The business has a fifty day simple moving average of $583.87 and a 200-day simple moving average of $535.34. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The firm has a market cap of $159.13 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.05 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. During the same quarter last year, the firm posted $3.19 earnings per share. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were paid a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Deere & 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.