RKL Wealth Management LLC reduced its position in shares of Deere & Company (NYSE:DE – Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,205 shares of the industrial products company’s stock after selling 115 shares during the period. RKL Wealth Management LLC’s holdings in Deere & Company were worth $565,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $39,000. Dogwood Wealth Management LLC purchased 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 shares of Deere & Company in the 4th quarter worth approximately $43,000. Finally, Citizens National Bank Trust Department purchased a new position in Deere & Company in the first quarter valued at approximately $45,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Price Performance
Deere & Company stock opened at $508.58 on Tuesday. The stock has a market cap of $137.74 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 3.26 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The business has a 50-day simple moving average of $501.87 and a 200 day simple moving average of $473.62. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.
Deere & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company’s dividend payout ratio is presently 31.35%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Oppenheimer boosted their target price on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Raymond James Financial upped their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Robert W. Baird increased their target price on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Bank of America boosted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $515.19.
Check Out Our Latest Research Report on Deere & Company
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.
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