Graves Light Lenhart Wealth Inc. Acquires New Holdings in Deere & Company (NYSE:DE)

Graves Light Lenhart Wealth Inc. bought a new stake in Deere & Company (NYSE:DE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 455 shares of the industrial products company’s stock, valued at approximately $214,000.

Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership purchased a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth about $39,000. Finally, Dogwood Wealth Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $42,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent research reports. Citigroup reduced their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America raised their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Raymond James increased their price target on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $515.19.

Deere & Company Stock Up 0.5%

Shares of DE opened at $505.77 on Monday. The firm has a market cap of $137.27 billion, a P/E ratio of 22.42, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock’s 50 day moving average is $475.54 and its two-hundred day moving average is $462.98. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $8.53 EPS. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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