Moss Adams Wealth Advisors LLC Takes $234,000 Position in Deere & Company (NYSE:DE)

Moss Adams Wealth Advisors LLC purchased a new stake in Deere & Company (NYSE:DE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 497 shares of the industrial products company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the fourth quarter worth about $39,000. Dogwood Wealth Management LLC purchased a new position in Deere & Company in the fourth quarter valued at about $42,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Robert W. Baird raised their price objective on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Truist Financial lifted their price target on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Oppenheimer raised their target price on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Citigroup reduced their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $515.19.

Deere & Company Trading Up 0.3%

Shares of DE opened at $521.63 on Tuesday. The stock has a fifty day moving average of $480.22 and a two-hundred day moving average of $467.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market capitalization of $141.27 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.53 earnings per share. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Deere & Company 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.