Barlow Wealth Partners Inc. Acquires Shares of 35,977 Deere & Company (NYSE:DE)

Barlow Wealth Partners Inc. purchased a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 35,977 shares of the industrial products company’s stock, valued at approximately $14,386,000. Deere & Company accounts for about 2.0% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 20th largest position.

Other institutional investors also recently bought and sold shares of the company. Briaud Financial Planning Inc acquired a new position in Deere & Company during the third quarter worth approximately $25,000. Rakuten Securities Inc. purchased a new stake in Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC purchased a new position in Deere & Company in the 4th quarter valued at about $29,000. Bfsg LLC acquired a new position in shares of Deere & Company in the fourth quarter worth about $30,000. Finally, ZRC Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $28,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE traded down $0.25 during midday trading on Wednesday, reaching $405.32. The company’s stock had a trading volume of 640,327 shares, compared to its average volume of 1,451,911. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a market cap of $112.82 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a 50 day moving average price of $393.13 and a 200 day moving average price of $384.23. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.55 earnings per share. On average, equities research analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. 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%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Finally, Evercore ISI lifted their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $433.28.

About Deere & Company

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.