Meridian Wealth Management LLC Has $6.21 Million Stock Position in Deere & Company $DE

Meridian Wealth Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,348 shares of the industrial products company’s stock after selling 2,842 shares during the quarter. Meridian Wealth Management LLC’s holdings in Deere & Company were worth $6,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Strategic Advocates LLC bought a new position in shares of Deere & Company during the 3rd quarter valued at about $25,000. Key Capital Management INC bought a new position in Deere & Company in the fourth quarter valued at approximately $27,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Activest Wealth Management increased its position in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 27 shares in the last quarter. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the third quarter worth $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE opened at $588.62 on Tuesday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm has a fifty day simple moving average of $584.67 and a 200 day simple moving average of $534.45. The stock has a market capitalization of $158.99 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 2.01 and a beta of 0.96. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. Research analysts forecast that Deere & Company will post 18.01 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were issued a dividend of $1.62 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DE shares. Citigroup cut their price objective on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a research report on Monday, March 9th. Wells Fargo & Company lifted their price target on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Bank of America boosted their price target on Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Argus boosted their price target on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, DA Davidson boosted their price target on Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Profile

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.