Firethorn Wealth Partners LLC Takes $200,000 Position in Deere & Company (NYSE:DE)

Firethorn Wealth Partners LLC acquired a new stake in Deere & Company (NYSE:DE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 487 shares of the industrial products company’s stock, valued at approximately $200,000.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $29,000. 68.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Price Performance

NYSE DE opened at $373.63 on Friday. The firm’s fifty day simple moving average is $385.32 and its two-hundred day simple moving average is $387.02. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $353.15 and a 12-month high of $450.00. The firm has a market capitalization of $102.96 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.51 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period last year, the firm posted $9.65 EPS. The company’s revenue was down 15.4% on a year-over-year basis. Analysts forecast that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Oppenheimer reissued an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. Raymond James began coverage on Deere & Company in a research note on Friday. They issued an “outperform” rating and a $420.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $430.55.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.