Venturi Wealth Management LLC Boosts Holdings in Deere & Company (NYSE:DE)

Venturi Wealth Management LLC grew its position in Deere & Company (NYSE:DE) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 843 shares of the industrial products company’s stock after acquiring an additional 91 shares during the quarter. Venturi Wealth Management LLC’s holdings in Deere & Company were worth $352,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its holdings in Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after acquiring an additional 770,451 shares during the period. Swedbank AB bought a new position in Deere & Company in the 1st quarter valued at $191,628,000. Mawer Investment Management Ltd. purchased a new stake in Deere & Company in the second quarter worth $166,937,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 2.2 %

DE stock opened at $393.83 on Wednesday. The stock has a market capitalization of $107.75 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a 50 day moving average of $403.35 and a 200 day moving average of $385.61.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the company earned $10.20 earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DE shares. Truist Financial raised their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Profile

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.