Woodward Diversified Capital LLC Makes New $297,000 Investment in Deere & Company (NYSE:DE)

Woodward Diversified Capital LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 633 shares of the industrial products company’s stock, valued at approximately $297,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the first quarter valued at about $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $42,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. DA Davidson reiterated a “buy” rating and issued a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Oppenheimer set a $560.00 price objective on shares of Deere & Company and gave the company an “outperform” rating in a report on Tuesday. 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. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $515.50.

Deere & Company Trading Up 0.9%

Shares of DE stock opened at $508.13 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The firm has a market cap of $137.62 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.19 and a beta of 1.08. The company has a 50-day moving average of $512.51 and a two-hundred day moving average of $479.60. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results 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. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company’s revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $8.53 earnings per share. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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 given a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.28%. Deere & Company’s dividend payout ratio is presently 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.