WealthPlan Investment Management LLC Takes $351,000 Position in Deere & Company (NYSE:DE)

WealthPlan Investment Management LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 841 shares of the industrial products company’s stock, valued at approximately $351,000.

Several other institutional investors also recently bought and sold shares of DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter valued at about $26,000. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR grew its holdings in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $393.83 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market cap of $107.75 billion, a PE ratio of 13.44, a P/E/G ratio of 1.50 and a beta of 0.93. The company’s fifty day simple moving average is $403.35 and its 200-day simple moving average is $385.61. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, equities research analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Analyst Upgrades and Downgrades

DE has been the topic of several research analyst reports. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Truist Financial raised their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Oppenheimer decreased 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. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $420.69.

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.