Cornerstone Wealth Group LLC Has $1.23 Million Position in Deere & Company $DE

Cornerstone Wealth Group LLC grew its holdings in shares of Deere & Company (NYSE:DE) by 1.6% in the second quarter, HoldingsChannel.com reports. The fund owned 2,412 shares of the industrial products company’s stock after acquiring an additional 37 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Deere & Company were worth $1,226,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Deere & Company by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after purchasing an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Deere & Company by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after purchasing an additional 25,725 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $439.00 on Tuesday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The stock has a market cap of $118.67 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.87 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm’s 50-day simple moving average is $477.70 and its 200 day simple moving average is $488.26.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the firm earned $6.29 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research report on Tuesday, August 19th. Jefferies Financial Group cut their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. Daiwa Capital Markets cut their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Finally, Truist Financial raised their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $513.88.

Deere & Company 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.