Spire Wealth Management Trims Stake in Deere & Company $DE

Spire Wealth Management lowered its position in Deere & Company (NYSE:DE) by 70.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,094 shares of the industrial products company’s stock after selling 4,896 shares during the period. Spire Wealth Management’s holdings in Deere & Company were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DE. Arkadios Wealth Advisors raised its holdings in shares of Deere & Company by 23.9% in the second quarter. Arkadios Wealth Advisors now owns 9,408 shares of the industrial products company’s stock worth $4,784,000 after buying an additional 1,817 shares during the period. World Investment Advisors boosted its holdings in Deere & Company by 40.1% during the 2nd quarter. World Investment Advisors now owns 1,933 shares of the industrial products company’s stock valued at $983,000 after acquiring an additional 553 shares during the period. Daymark Wealth Partners LLC grew its position in Deere & Company by 6.0% in the 2nd quarter. Daymark Wealth Partners LLC now owns 7,456 shares of the industrial products company’s stock valued at $3,791,000 after acquiring an additional 421 shares during the last quarter. WNY Asset Management LLC increased its stake in Deere & Company by 20.4% in the second quarter. WNY Asset Management LLC now owns 590 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 100 shares during the period. Finally, Bank of Jackson Hole Trust increased its stake in Deere & Company by 11.9% in the second quarter. Bank of Jackson Hole Trust now owns 1,479 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 157 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.9%

DE opened at $461.41 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a market cap of $124.73 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 3.05 and a beta of 1.02. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock has a fifty day moving average price of $467.74 and a 200-day moving average price of $489.49.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for 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%.The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.29 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s payout ratio is presently 33.87%.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Oppenheimer dropped their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Finally, UBS Group restated a “buy” rating on shares of Deere & Company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $518.72.

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.