Deere & Company (NYSE:DE) Shares Bought by Spire Wealth Management

Spire Wealth Management boosted its stake in shares of Deere & Company (NYSE:DE) by 140.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,990 shares of the industrial products company’s stock after buying an additional 4,078 shares during the quarter. Spire Wealth Management’s holdings in Deere & Company were worth $3,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Deere & Company during the fourth quarter worth about $847,000. Stenger Family Office LLC acquired a new position in Deere & Company during the fourth quarter worth about $3,144,000. First Business Financial Services Inc. purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $4,254,000. Finally, Westpac Banking Corp lifted its holdings in shares of Deere & Company by 17.9% in the fourth quarter. Westpac Banking Corp now owns 11,904 shares of the industrial products company’s stock valued at $5,044,000 after purchasing an additional 1,809 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE opened at $506.87 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The company has a market cap of $137.28 billion, a P/E ratio of 24.52, a P/E/G ratio of 3.26 and a beta of 1.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The firm’s 50 day moving average is $498.19 and its two-hundred day moving average is $471.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company’s revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $8.53 earnings per share. Analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on DE shares. Barclays upped their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Raymond James Financial upped their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Robert W. Baird upped their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Truist Financial upped their price target on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $515.19.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.