Hennion & Walsh Asset Management Inc. Boosts Holdings in Deere & Company (NYSE:DE)

Hennion & Walsh Asset Management Inc. raised its stake in shares of Deere & Company (NYSE:DE) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,617 shares of the industrial products company’s stock after acquiring an additional 147 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Deere & Company were worth $3,129,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares in the last quarter. ZRC Wealth Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company in the fourth quarter worth about $28,000. Naples Money Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Deere & Company in the fourth quarter worth about $29,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.4 %

DE stock opened at $373.63 on Friday. The company has a fifty day moving average price of $385.32 and a 200 day moving average price of $387.21. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The company has a market cap of $102.96 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the prior year, the firm earned $9.65 EPS. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DE shares. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. TD Cowen lifted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Daiwa Capital Markets lifted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Stifel Nicolaus lifted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $430.55.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

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.