Perigon Wealth Management LLC Takes Position in Deere & Company $DE

Perigon Wealth Management LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,232 shares of the industrial products company’s stock, valued at approximately $12,200,000.

Other institutional investors also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company in the 4th quarter valued at $30,000. Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the 1st quarter worth $32,000. Wealth Watch Advisors INC purchased a new position in Deere & Company during the 3rd quarter worth $32,000. Finally, SHP Wealth Management purchased a new position in Deere & Company during the 4th quarter worth $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $600.08 on Tuesday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a 50-day moving average price of $603.76 and a 200 day moving average price of $588.84. The company has a market cap of $161.99 billion, a P/E ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $6.64 EPS. Research analysts predict that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were paid a $1.62 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Analyst Ratings Changes

DE has been the subject of several recent research reports. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Bank of America decreased their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Raymond James Financial lowered their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Truist Financial boosted their target price on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $641.98.

About Deere & Company

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.