AE Wealth Management LLC Has $2.71 Million Position in Deere & Company (NYSE:DE)

AE Wealth Management LLC raised its stake in shares of Deere & Company (NYSE:DE) by 35.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,245 shares of the industrial products company’s stock after purchasing an additional 1,877 shares during the quarter. AE Wealth Management LLC’s holdings in Deere & Company were worth $2,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of DE. Vanguard Group Inc. lifted its position in shares of Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares during the last quarter. 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. Dimensional Fund Advisors LP grew its stake in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after acquiring an additional 150,713 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.9 %

Shares of DE stock opened at $405.89 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $111.85 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.29 and a beta of 0.92. Deere & Company has a 12-month low of $340.20 and a 12-month high of $417.46. The firm has a 50-day moving average price of $376.24 and a 200 day moving average price of $382.88.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $10.20 EPS. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DE. Citigroup decreased their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Truist Financial reissued a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. JPMorgan Chase & Co. cut their price target on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $410.50.

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.