Deere & Company $DE Shares Acquired by Lineweaver Wealth Advisors LLC

Lineweaver Wealth Advisors LLC lifted its position in shares of Deere & Company (NYSE:DE) by 6.6% during the second quarter, Holdings Channel.com reports. The firm owned 3,399 shares of the industrial products company’s stock after acquiring an additional 210 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in Deere & Company were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC grew its stake in shares of Deere & Company by 20.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 268 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 46 shares during the period. Pines Wealth Management LLC lifted its position in shares of Deere & Company by 29.1% during the 2nd quarter. Pines Wealth Management LLC now owns 798 shares of the industrial products company’s stock valued at $416,000 after buying an additional 180 shares in the last quarter. Sunpointe LLC lifted its position in shares of Deere & Company by 58.9% during the 2nd quarter. Sunpointe LLC now owns 1,093 shares of the industrial products company’s stock valued at $557,000 after buying an additional 405 shares in the last quarter. Taylor Hoffman Capital Management LLC lifted its position in shares of Deere & Company by 1.2% during the 2nd quarter. Taylor Hoffman Capital Management LLC now owns 16,956 shares of the industrial products company’s stock valued at $8,622,000 after buying an additional 203 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in shares of Deere & Company by 1.8% during the 2nd quarter. Pallas Capital Advisors LLC now owns 1,873 shares of the industrial products company’s stock valued at $952,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DE shares. Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. Robert W. Baird decreased their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Truist Financial decreased their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. decreased their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 2nd. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $520.87.

Deere & Company Stock Down 0.1%

Shares of DE opened at $468.62 on Wednesday. The firm has a market cap of $126.68 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company’s 50-day moving average price is $495.76 and its 200 day moving average price is $490.16. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $6.29 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. 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 payout ratio is currently 33.87%.

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.