Alpine Bank Wealth Management Raises Holdings in Deere & Company $DE

Alpine Bank Wealth Management grew its position in shares of Deere & Company (NYSE:DE) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 455 shares of the industrial products company’s stock after purchasing an additional 45 shares during the period. Alpine Bank Wealth Management’s holdings in Deere & Company were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DE. Nuveen LLC purchased a new position in shares of Deere & Company during the first quarter valued at about $571,073,000. Voya Investment Management LLC grew its position in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after purchasing an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Sarasin & Partners LLP grew its position in Deere & Company by 50.4% in the first quarter. Sarasin & Partners LLP now owns 771,866 shares of the industrial products company’s stock worth $362,275,000 after acquiring an additional 258,522 shares in the last quarter. Finally, Invesco Ltd. grew its position in Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Daiwa Capital Markets dropped their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Robert W. Baird dropped their price target on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. JPMorgan Chase & Co. dropped their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. Finally, Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $518.06.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $463.93 on Monday. The firm’s 50 day simple moving average is $489.67 and its 200-day simple moving average is $489.95. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The firm has a market cap of $125.41 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.29 earnings per share. As a group, equities analysts predict 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 Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

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.