5,632 Deere & Company $DE Shares Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lifted its holdings in shares of Deere & Company (NYSE:DE) by 50.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,736 shares of the industrial products company’s stock after purchasing an additional 5,632 shares during the period. Confluence Wealth Services Inc.’s holdings in Deere & Company were worth $11,239,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of DE. AMG National Trust Bank grew its position in shares of Deere & Company by 4.2% in the 3rd quarter. AMG National Trust Bank now owns 2,972 shares of the industrial products company’s stock valued at $1,996,000 after buying an additional 121 shares during the last quarter. Moneco Advisors LLC raised its position in shares of Deere & Company by 2.3% during the third quarter. Moneco Advisors LLC now owns 2,776 shares of the industrial products company’s stock worth $1,864,000 after acquiring an additional 63 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Deere & Company by 2.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,270 shares of the industrial products company’s stock worth $2,867,000 after acquiring an additional 94 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Deere & Company by 0.9% in the third quarter. Cornerstone Wealth Management LLC now owns 3,997 shares of the industrial products company’s stock worth $2,684,000 after acquiring an additional 37 shares during the period. Finally, Narwhal Capital Management lifted its stake in shares of Deere & Company by 167.5% in the third quarter. Narwhal Capital Management now owns 1,720 shares of the industrial products company’s stock worth $1,155,000 after acquiring an additional 1,077 shares during the period. Institutional investors own 68.58% of the company’s stock.

Key Headlines Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: ETF activity showed net interest in Deere: 36 ETFs added shares while 11 reduced holdings, and Capital Group Growth reported buying $87.4 million of Deere stock. ETF buying report Capital Group Growth report
• Neutral Sentiment: Deere added former Ernst & Young U.S. CEO Julie Boland to its board, bringing finance and governance experience. The related analysis said the shares were about 2% below its fair-value estimate, suggesting limited valuation cushion. Board and valuation analysis
• Negative Sentiment: Deere plans to end production at two Iowa plants and shift some work to other U.S. facilities and Brazil, while also moving production from Illinois and Louisiana. The company says the multiyear restructuring is intended to match capacity with demand; the closures and production shifts may nevertheless raise concerns about demand and the execution of the reorganization. Iowa plant closure report Production realignment report

Analyst Ratings Changes

Several brokerages recently commented on DE. Nomura upgraded Deere & Company to a “buy” rating in a report on Monday, August 31st. CICC Research initiated coverage on shares of Deere & Company in a research report on Sunday, September 13th. They set an “outperform” rating for the company. Oppenheimer raised their price target on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. Finally, Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research report on Friday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Stock Performance

Shares of DE opened at $686.83 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm’s fifty day simple moving average is $668.81 and its two-hundred day simple moving average is $609.76. Deere & Company has a 12 month low of $455.90 and a 12 month high of $721.22. The stock has a market capitalization of $185.18 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The firm had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same period last year, the company posted $4.75 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts predict that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 9th. Investors of record on Wednesday, September 30th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 0.9%. Deere & Company’s dividend payout ratio is presently 36.00%.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.