Marks Group Wealth Management Inc Purchases 64 Shares of Deere & Company (NYSE:DE)

Marks Group Wealth Management Inc raised its stake in shares of Deere & Company (NYSE:DE) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 3,163 shares of the industrial products company’s stock after acquiring an additional 64 shares during the period. Marks Group Wealth Management Inc’s holdings in Deere & Company were worth $1,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in shares of Deere & Company during the 3rd quarter valued at about $25,000. ZRC Wealth Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company during the 4th quarter valued at about $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at about $29,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Deere & Company during the 3rd quarter valued at about $37,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $0.89 on Tuesday, reaching $398.72. The company’s stock had a trading volume of 609,931 shares, compared to its average volume of 1,477,768. The company has a market capitalization of $110.99 billion, a P/E ratio of 11.75, a PEG ratio of 1.50 and a beta of 1.04. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The stock has a 50-day moving average price of $386.06 and a 200-day moving average price of $383.26. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during 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 business’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.55 earnings per share. Analysts expect that Deere & Company will post 27.4 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Stifel Nicolaus lowered their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Finally, Wells Fargo & Company lowered their target price 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. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $433.28.

Deere & 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.