Alta Wealth Advisors LLC Buys Shares of 469 Deere & Company (NYSE:DE)

Alta Wealth Advisors LLC bought a new stake in Deere & Company (NYSE:DE) during the 1st quarter, Holdings Channel reports. The fund bought 469 shares of the industrial products company’s stock, valued at approximately $220,000.

Other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company in the 4th quarter worth $39,000. Dogwood Wealth Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth $42,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $43,000. Finally, Marquette Asset Management LLC bought a new stake in Deere & Company in the first quarter valued at about $49,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $508.34 on Friday. The stock has a 50-day moving average price of $499.31 and a two-hundred day moving average price of $472.26. The stock has a market cap of $137.67 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm earned $8.53 earnings per share. Deere & Company’s revenue for the quarter was down 17.9% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company’s dividend payout ratio is currently 31.35%.

Analyst Ratings Changes

A number of brokerages have issued reports on DE. BMO Capital Markets restated a “market perform” rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. DA Davidson restated a “buy” rating and set a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Raymond James Financial upped their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $515.19.

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.