Modern Wealth Management LLC Has $1.80 Million Stake in Deere & Company $DE

Modern Wealth Management LLC lifted its stake in Deere & Company (NYSE:DE) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,833 shares of the industrial products company’s stock after acquiring an additional 29 shares during the quarter. Modern Wealth Management LLC’s holdings in Deere & Company were worth $1,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Activest Wealth Management increased its position in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. 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 increased 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 acquiring 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. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson lowered their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Raymond James Financial boosted 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. JPMorgan Chase & Co. lowered their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 2nd. Finally, Barclays boosted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $520.87.

Deere & Company Trading Down 1.1%

Shares of NYSE:DE opened at $471.35 on Friday. Deere & Company has a 12-month low of $386.42 and a 12-month high of $533.78. The stock has a market cap of $127.42 billion, a PE ratio of 24.64, a P/E/G ratio of 3.06 and a beta of 1.00. The business has a 50 day moving average of $497.38 and a 200-day moving average of $490.24. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the company posted $6.29 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

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.