OneAscent Wealth Management LLC Purchases 365 Shares of Deere & Company (NYSE:DE)

OneAscent Wealth Management LLC increased its position in shares of Deere & Company (NYSE:DE) by 65.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 923 shares of the industrial products company’s stock after acquiring an additional 365 shares during the period. OneAscent Wealth Management LLC’s holdings in Deere & Company were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Norges Bank acquired a new position in Deere & Company during the 4th quarter worth about $1,248,036,000. International Assets Investment Management LLC lifted its holdings in Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after buying an additional 838,813 shares during the period. Parnassus Investments LLC lifted its holdings in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after buying an additional 160,369 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after buying an additional 150,713 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock traded down $1.68 during mid-day trading on Friday, reaching $373.63. 6,689,701 shares of the company traded hands, compared to its average volume of 1,409,983. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The company has a market capitalization of $102.96 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.51 and a beta of 0.98. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The company has a fifty day moving average price of $385.32 and a 200-day moving average price of $387.02.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the firm earned $9.65 earnings per share. Deere & Company’s revenue was down 15.4% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. Deere & Company’s payout ratio is 17.70%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent analyst reports. Raymond James initiated coverage on Deere & Company in a research note on Friday. They issued an “outperform” rating and a $420.00 price objective on the stock. Citigroup started coverage on Deere & Company in a report on Wednesday. They set a “neutral” rating and a $395.00 price objective for the company. Morgan Stanley lifted their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. TD Cowen raised their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, DA Davidson decreased their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $430.55.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.