RMG Wealth Management LLC Increases Stock Position in Deere & Company $DE

RMG Wealth Management LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 109.1% in the first quarter, HoldingsChannel reports. The firm owned 1,769 shares of the industrial products company’s stock after acquiring an additional 923 shares during the period. Deere & Company makes up about 0.1% of RMG Wealth Management LLC’s portfolio, making the stock its 20th biggest holding. RMG Wealth Management LLC’s holdings in Deere & Company were worth $1,042,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Deere & Company in the second quarter valued at $2,153,000. NewEdge Advisors LLC boosted its stake in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the topic of several analyst reports. Raymond James Financial decreased their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. JPMorgan Chase & Co. raised their target price 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. Truist Financial boosted their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Oppenheimer restated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Finally, Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Stock Up 0.5%

DE opened at $610.38 on Friday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a 50 day moving average price of $583.73 and a 200 day moving average price of $575.72. 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 market cap of $164.77 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the previous year, the company posted $6.64 earnings per share. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 18.27 earnings per share for the current year.

Deere & Company Announces Dividend

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

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.