NewEdge Wealth LLC Buys 2,002 Shares of Deere & Company $DE

NewEdge Wealth LLC lifted its holdings in Deere & Company (NYSE:DE) by 55.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,628 shares of the industrial products company’s stock after acquiring an additional 2,002 shares during the period. NewEdge Wealth LLC’s holdings in Deere & Company were worth $2,620,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Strategic Advocates LLC purchased a new position in Deere & Company during the 3rd quarter worth approximately $25,000. Key Capital Management INC purchased a new position in Deere & Company in the fourth quarter worth approximately $27,000. Activest Wealth Management raised its position in Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 27 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new position in Deere & Company during the third quarter worth $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE opened at $589.14 on Wednesday. The company has a market capitalization of $159.13 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The business has a 50-day moving average of $583.87 and a 200-day moving average of $535.34. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, March 31st. Deere & Company’s dividend payout ratio is 36.53%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DE. DA Davidson upped their target price on Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. BMO Capital Markets lifted their price objective on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Oppenheimer reissued an “outperform” rating and set a $715.00 price objective on shares of Deere & Company in a research report on Friday, February 20th. Finally, Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $655.45.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.