Wealth Enhancement Advisory Services LLC Buys 5,685 Shares of Deere & Company $DE

Wealth Enhancement Advisory Services LLC grew its stake in Deere & Company (NYSE:DE) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,705 shares of the industrial products company’s stock after purchasing an additional 5,685 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Deere & Company were worth $49,859,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DE. Activest Wealth Management raised its holdings in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new position in Deere & Company in the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its holdings in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new position in Deere & Company in the 4th quarter worth $34,000. Finally, Mascagni Wealth Management Inc. bought a new position in Deere & Company in the 4th quarter worth $39,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $476.18 on Friday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company’s 50-day moving average is $494.07 and its 200 day moving average is $490.09. The company has a market capitalization of $128.73 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating 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 company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm posted $6.29 EPS. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Ratings Changes

Several research analysts have commented on DE shares. Oppenheimer decreased their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $517.27.

About Deere & Company

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.