Alpine Bank Wealth Management Invests $192,000 in Deere & Company (NYSE:DE)

Alpine Bank Wealth Management acquired a new position in shares of Deere & Company (NYSE:DE) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 410 shares of the industrial products company’s stock, valued at approximately $192,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in shares of Deere & Company during the 4th quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the fourth quarter worth $39,000. Dogwood Wealth Management LLC bought a new position in Deere & Company in the fourth quarter valued at $42,000. Wood Tarver Financial Group LLC acquired a new stake in Deere & Company in the 4th quarter valued at $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Deere & Company during the 4th quarter worth about $48,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $506.87 on Thursday. The company has a market capitalization of $137.28 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a 50-day simple moving average of $498.19 and a 200 day simple moving average of $471.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

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

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

DE has been the topic of several analyst reports. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Finally, Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Profile

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.