Principle Wealth Partners LLC Invests $770,000 in Deere & Company $DE

Principle Wealth Partners LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,214 shares of the industrial products company’s stock, valued at approximately $770,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Portus Wealth Advisors LLC purchased a new position in Deere & Company during the 1st quarter worth $32,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $30,000. Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company in the third quarter valued at about $32,000. Finally, Evolution Wealth Management Inc. increased its stake in shares of Deere & Company by 6,900.0% during the first quarter. Evolution Wealth Management Inc. now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 69 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Truist Financial lifted their price objective on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. DA Davidson reissued a “buy” rating and set a $685.00 target price on shares of Deere & Company in a research note on Friday, July 17th. Finally, Raymond James Financial reduced their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $641.98.

Deere & Company Stock Performance

Shares of DE opened at $600.08 on Tuesday. The company has a 50-day simple moving average of $603.76 and a 200-day simple moving average of $588.84. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $161.99 billion, a PE ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $6.64 earnings per share. Equities research analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 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.