Kane Co Wealth Management Inc. Takes $553,000 Position in Deere & Company $DE

Kane Co Wealth Management Inc. acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,188 shares of the industrial products company’s stock, valued at approximately $553,000.

Several other hedge funds also recently modified their holdings of the stock. Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 19 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Deere & Company by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 20 shares in the last quarter. Family Legacy Inc. grew its holdings in shares of Deere & Company by 0.3% in the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock valued at $3,675,000 after acquiring an additional 20 shares in the last quarter. Bouchey Financial Group Ltd grew its holdings in shares of Deere & Company by 4.4% in the 3rd quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 21 shares in the last quarter. Finally, Silvant Capital Management LLC grew its holdings in shares of Deere & Company by 0.5% in the 3rd quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock valued at $2,034,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.1%

Deere & Company stock opened at $562.12 on Monday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock has a market capitalization of $151.83 billion, a P/E ratio of 31.69, a PEG ratio of 1.96 and a beta of 0.96. The stock has a 50-day simple moving average of $580.96 and a 200 day simple moving average of $537.44.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter last year, the company posted $3.19 earnings per share. Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts expect that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.2%. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Analysts Set New Price Targets

DE has been the subject of several analyst reports. Morgan Stanley raised their price objective on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Royal Bank Of Canada lifted their price target on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Raymond James Financial reiterated an “outperform” rating and set a $765.00 price target on shares of Deere & Company in a report on Monday, February 23rd. UBS Group lifted their price target on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Oppenheimer reiterated an “outperform” rating and set a $715.00 price target on shares of Deere & Company in a report on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $655.45.

Deere & Company 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.