Wealthspire Advisors LLC Purchases 399 Shares of Deere & Company (NYSE:DE)

Wealthspire Advisors LLC grew its holdings in Deere & Company (NYSE:DE) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,994 shares of the industrial products company’s stock after buying an additional 399 shares during the quarter. Wealthspire Advisors LLC’s holdings in Deere & Company were worth $797,000 as of its most recent filing with the SEC.

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

Deere & Company Stock Performance

Shares of NYSE DE traded down $0.19 during midday trading on Friday, hitting $408.81. 212,045 shares of the company’s stock were exchanged, compared to its average volume of 1,432,430. The company’s 50 day moving average price is $393.94 and its 200 day moving average price is $384.38. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The firm has a market capitalization of $113.80 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. 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 issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share 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 analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $6.55 earnings per share. As a group, analysts predict that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on 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 lowered their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Citigroup dropped their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Evercore ISI lifted their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.