Cornerstone Wealth Management LLC Purchases 41 Shares of Deere & Company (NYSE:DE)

Cornerstone Wealth Management LLC raised its position in shares of Deere & Company (NYSE:DE) by 1.4% in the first quarter, Holdings Channel reports. The fund owned 2,873 shares of the industrial products company’s stock after buying an additional 41 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Deere & Company were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Morgan Stanley boosted its stake in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares during the period. Parnassus Investments LLC boosted its position in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after acquiring an additional 705,771 shares during the period. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter worth $1,248,036,000. Dimensional Fund Advisors LP increased its position in Deere & Company by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after acquiring an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Deere & Company by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after purchasing an additional 31,074 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.6 %

Shares of DE opened at $362.79 on Friday. The company has a market capitalization of $99.97 billion, a P/E ratio of 10.92, a PEG ratio of 1.46 and a beta of 0.93. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The business’s 50 day simple moving average is $382.63 and its 200-day simple moving average is $386.61. 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 issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.65 EPS. As a group, sell-side analysts predict that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business 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 dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.62%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Daiwa Capital Markets raised their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. TD Cowen boosted their price target on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Raymond James started coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Citigroup assumed coverage on Deere & Company in a report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price objective on the stock. Finally, Truist Financial cut their target price on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus target price of $427.66.

Deere & Company 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.