Hennion & Walsh Asset Management Inc. Has $2.68 Million Holdings in Deere & Company $DE

Hennion & Walsh Asset Management Inc. increased its position in shares of Deere & Company (NYSE:DE) by 24.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,222 shares of the industrial products company’s stock after acquiring an additional 838 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Deere & Company were worth $2,678,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DE. Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at approximately $32,000. Key Capital Management INC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC acquired a new position in Deere & Company during the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter valued at approximately $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Bank of America reduced their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Robert W. Baird decreased their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Trading Down 2.0%

Shares of DE stock opened at $608.68 on Tuesday. The stock has a market cap of $164.31 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.62 and a beta of 0.90. The stock has a 50-day moving average of $600.93 and a 200-day moving average of $585.63. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.64 earnings per share. On average, equities research analysts forecast that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.