Deere & Company (NYSE:DE) Shares Bought by Capital Wealth Planning LLC

Capital Wealth Planning LLC boosted its position in shares of Deere & Company (NYSE:DE) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 510,712 shares of the industrial products company’s stock after buying an additional 7,447 shares during the quarter. Deere & Company makes up 2.0% of Capital Wealth Planning LLC’s holdings, making the stock its 23rd biggest position. Capital Wealth Planning LLC owned about 0.19% of Deere & Company worth $190,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD acquired a new stake in shares of Deere & Company in the second quarter valued at about $3,714,000. Rathbones Group PLC grew its position in shares of Deere & Company by 12.6% in the second quarter. Rathbones Group PLC now owns 323,702 shares of the industrial products company’s stock valued at $120,945,000 after purchasing an additional 36,148 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Deere & Company by 1.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 810,956 shares of the industrial products company’s stock valued at $302,997,000 after purchasing an additional 12,557 shares during the period. Lyell Wealth Management LP grew its position in shares of Deere & Company by 8.7% in the second quarter. Lyell Wealth Management LP now owns 14,902 shares of the industrial products company’s stock valued at $5,568,000 after purchasing an additional 1,196 shares during the period. Finally, Guardian Wealth Management Inc. grew its position in shares of Deere & Company by 41.0% in the second quarter. Guardian Wealth Management Inc. now owns 688 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 2.0 %

DE stock opened at $394.68 on Monday. The company has a fifty day moving average price of $371.71 and a 200 day moving average price of $381.63. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The company has a market cap of $108.76 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 EPS. Sell-side analysts expect that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s payout ratio is currently 17.70%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DE has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Evercore ISI raised their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Truist Financial reissued a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. DA Davidson decreased their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Finally, Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $409.88.

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.