28,433 Shares in Deere & Company $DE Purchased by Wealthspan Partners LLC

Wealthspan Partners LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,433 shares of the industrial products company’s stock, valued at approximately $18,036,000. Deere & Company comprises about 5.7% of Wealthspan Partners LLC’s investment portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Vanguard Group Inc. boosted its holdings in Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after buying an additional 198,332 shares during the period. State Street Corp boosted its holdings in shares of Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock worth $4,898,717,000 after acquiring an additional 97,049 shares during the period. Capital World Investors grew its position in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after purchasing an additional 158,584 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Deere & Company by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after purchasing an additional 17,269 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.0%

Shares of NYSE DE opened at $608.73 on Monday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. The business has a 50-day moving average of $603.23 and a 200-day moving average of $588.27.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for 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%. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $6.64 earnings per share. Sell-side analysts expect 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 issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.

Analysts Set New Price Targets

Several brokerages have commented on DE. Robert W. Baird cut their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday. Finally, DA Davidson reaffirmed a “buy” rating and set a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $641.98.

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.