BWM Planning LLC Takes $273,000 Position in Deere & Company (NYSE:DE)

BWM Planning LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 655 shares of the industrial products company’s stock, valued at approximately $273,000.

Several other hedge funds have also recently bought and sold shares of the business. Pinnacle Bancorp Inc. lifted its position in shares of Deere & Company by 5.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 817 shares of the industrial products company’s stock worth $341,000 after buying an additional 40 shares during the period. Sendero Wealth Management LLC increased its stake in shares of Deere & Company by 10.9% in the 3rd quarter. Sendero Wealth Management LLC now owns 19,657 shares of the industrial products company’s stock valued at $8,203,000 after buying an additional 1,926 shares during the period. Quotient Wealth Partners LLC increased its stake in shares of Deere & Company by 3.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 892 shares of the industrial products company’s stock valued at $372,000 after buying an additional 30 shares during the period. SS&H Financial Advisors Inc. grew its stake in shares of Deere & Company by 1.3% during the third quarter. SS&H Financial Advisors Inc. now owns 3,979 shares of the industrial products company’s stock worth $1,661,000 after purchasing an additional 50 shares during the period. Finally, Steigerwald Gordon & Koch Inc. grew its stake in shares of Deere & Company by 1.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 57,647 shares of the industrial products company’s stock worth $24,058,000 after purchasing an additional 803 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DE shares. Citigroup boosted their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer lowered their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Truist Financial raised their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

NYSE:DE traded up $5.00 during midday trading on Friday, hitting $410.76. The company had a trading volume of 93,576 shares, compared to its average volume of 1,480,486. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The stock’s fifty day moving average price is $385.86 and its 200-day moving average price is $385.44. The company has a market capitalization of $112.38 billion, a PE ratio of 13.85, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.20 earnings per share. As a group, research analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 20.06%.

Deere & Company Company Profile

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.