NewEdge Wealth LLC Reduces Holdings in Deere & Company $DE

NewEdge Wealth LLC cut its stake in shares of Deere & Company (NYSE:DE) by 59.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,286 shares of the industrial products company’s stock after selling 3,342 shares during the quarter. NewEdge Wealth LLC’s holdings in Deere & Company were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Key Capital Management INC bought a new stake in Deere & Company in the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. Portus Wealth Advisors LLC bought a new position in shares of Deere & Company in the first quarter worth approximately $32,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Deere & Company in the third quarter worth $32,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. DA Davidson reiterated a “buy” rating and set a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Raymond James Financial decreased their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Bank of America dropped their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $628.32 on Monday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm has a market capitalization of $169.61 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.65 and a beta of 0.89. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The business has a fifty day simple moving average of $585.05 and a two-hundred day simple moving average of $576.86.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.64 EPS. On average, equities analysts forecast that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

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.