Deere & Company $DE Shares Bought by RMG Wealth Management LLC

RMG Wealth Management LLC grew its holdings in Deere & Company (NYSE:DE) by 109.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,769 shares of the industrial products company’s stock after buying an additional 923 shares during the quarter. Deere & Company accounts for 0.1% of RMG Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. RMG Wealth Management LLC’s holdings in Deere & Company were worth $1,042,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DE. Key Capital Management INC acquired a new position in Deere & Company during the fourth quarter worth about $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Finally, Portus Wealth Advisors LLC acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on DE. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Wolfe Research increased their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Bank of America reduced their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. upped their price objective on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, Citigroup lifted their target price on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company Trading Up 0.5%

DE opened at $610.38 on Friday. The firm has a market cap of $164.77 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89. The business’s 50 day moving average is $583.73 and its two-hundred day moving average is $575.72. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.64 EPS. On average, research analysts predict that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.

About Deere & Company

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.