Fourth Dimension Wealth LLC Acquires 240 Shares of Deere & Company (NYSE:DE)

Fourth Dimension Wealth LLC raised its stake in Deere & Company (NYSE:DE) by 88.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 510 shares of the industrial products company’s stock after purchasing an additional 240 shares during the quarter. Fourth Dimension Wealth LLC’s holdings in Deere & Company were worth $239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company during the fourth quarter worth about $39,000. Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $42,000. Wood Tarver Financial Group LLC bought a new stake in Deere & Company during the fourth quarter worth $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Deere & Company during the fourth quarter worth $48,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on DE shares. Citigroup dropped their target price on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Barclays raised their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Robert W. Baird raised their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, UBS Group lowered their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

NYSE DE opened at $513.86 on Tuesday. The stock has a 50-day moving average of $496.05 and a 200 day moving average of $471.31. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a market capitalization of $139.17 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.31 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 EPS. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.26%. Deere & Company’s payout ratio is 31.35%.

Deere & Company Profile

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.