Iowa State Bank Makes New Investment in Deere & Company (NYSE:DE)

Iowa State Bank acquired a new stake in shares of Deere & Company (NYSE:DE) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 477 shares of the industrial products company’s stock, valued at approximately $224,000.

Other large investors have also recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC boosted its stake in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after acquiring an additional 22 shares in the last quarter. Quent Capital LLC raised its holdings in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares during the period. Valeo Financial Advisors LLC raised its holdings in Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the period. Massachusetts Wealth Management boosted its position in Deere & Company by 0.5% during the fourth quarter. Massachusetts Wealth Management now owns 5,127 shares of the industrial products company’s stock worth $2,172,000 after purchasing an additional 25 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in Deere & Company by 2.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 25 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DE. Oppenheimer lifted their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. DA Davidson reaffirmed a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Truist Financial boosted their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Robert W. Baird lifted their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $515.19.

Deere & Company Stock Up 0.5%

NYSE:DE opened at $505.77 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The stock’s fifty day moving average is $475.54 and its two-hundred day moving average is $462.50. The stock has a market capitalization of $137.27 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.53 earnings per share. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.