Deere & Company $DE Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC grew its stake in Deere & Company (NYSE:DE) by 173.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,336 shares of the industrial products company’s stock after purchasing an additional 3,387 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Deere & Company were worth $3,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Norges Bank purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $1,715,633,000. Capital World Investors boosted its holdings in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after buying an additional 1,893,972 shares during the period. M&T Bank Corp grew its position in Deere & Company by 1,199.8% during the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after buying an additional 1,721,239 shares during the period. Finally, Diamant Asset Management Inc. increased its holdings in Deere & Company by 56,230.0% in the first quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock valued at $343,961,000 after buying an additional 609,533 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $621.09 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a fifty day moving average of $578.41 and a two-hundred day moving average of $562.69. The stock has a market capitalization of $167.66 billion, a PE ratio of 35.19, a P/E/G ratio of 2.30 and a beta of 0.89. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19.

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

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid 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 yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Bank of America dropped their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Truist Financial lifted their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday. Barclays upped their price target on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Finally, Wolfe Research increased their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Fourteen equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $642.23.

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.