Deere & Company $DE Shares Bought by Allworth Financial LP

Allworth Financial LP grew its position in Deere & Company (NYSE:DE) by 42.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,820 shares of the industrial products company’s stock after purchasing an additional 4,150 shares during the period. Allworth Financial LP’s holdings in Deere & Company were worth $6,434,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DE. Brighton Jones LLC increased its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. increased its position in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 150 shares in the last quarter. Jump Financial LLC purchased a new stake in Deere & Company during the 2nd quarter worth about $2,153,000. NewEdge Advisors LLC increased its position in Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $562.12 on Friday. The company has a market cap of $151.83 billion, a P/E ratio of 31.69, a PEG ratio of 2.00 and a beta of 0.96. The stock has a fifty day moving average price of $580.96 and a 200 day moving average price of $537.02. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the prior year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Deere & Company’s payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. Wells Fargo & Company lifted their price target on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Robert W. Baird lowered their price target on Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Raymond James Financial restated an “outperform” rating and issued a $765.00 price target on shares of Deere & Company in a report on Monday, February 23rd. Finally, Wolfe Research lifted their price target on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $655.45.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.