Eagle Wealth Strategies LLC Invests $208,000 in Deere & Company (NYSE:DE)

Eagle Wealth Strategies LLC acquired a new position in Deere & Company (NYSE:DE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 442 shares of the industrial products company’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its stake in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in shares of Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after buying an additional 22 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Deere & Company by 1.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,346 shares of the industrial products company’s stock valued at $1,841,000 after acquiring an additional 70 shares during the period. Silver Oak Securities Incorporated increased its position in shares of Deere & Company by 32.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,276 shares of the industrial products company’s stock valued at $542,000 after acquiring an additional 313 shares during the period. Finally, Consolidated Portfolio Review Corp raised its stake in Deere & Company by 3.0% in the 4th quarter. Consolidated Portfolio Review Corp now owns 1,040 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.7%

Shares of DE opened at $519.62 on Friday. The firm has a market cap of $140.73 billion, a P/E ratio of 23.03, a PEG ratio of 2.14 and a beta of 1.09. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock’s 50 day moving average is $479.20 and its two-hundred day moving average is $466.37. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.53 EPS. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Wall Street Analyst Weigh In

Several analysts have weighed in on DE shares. Oppenheimer boosted their price target on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Morgan Stanley upped their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Finally, Raymond James increased their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Profile

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.