Western Wealth Management LLC Increases Holdings in Deere & Company (NYSE:DE)

Western Wealth Management LLC boosted its position in Deere & Company (NYSE:DE) by 16.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016 shares of the industrial products company’s stock after purchasing an additional 143 shares during the period. Western Wealth Management LLC’s holdings in Deere & Company were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC increased its position in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Deere & Company in the fourth quarter worth $29,000. Bfsg LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $30,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the fourth quarter valued at $30,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.3 %

DE stock traded down $1.15 during trading on Monday, reaching $376.77. The stock had a trading volume of 344,916 shares, compared to its average volume of 1,542,418. Deere & Company has a 1-year low of $340.20 and a 1-year high of $423.35. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $103.83 billion, a P/E ratio of 11.42, a PEG ratio of 1.59 and a beta of 0.93. The firm has a fifty day moving average price of $367.47 and a 200 day moving average price of $380.36.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 earnings per share. The company’s revenue was down 20.3% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. DA Davidson lowered their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Truist Financial reiterated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday. Finally, Evercore ISI raised their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $421.90.

Deere & Company 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.