Wallington Asset Management LLC Purchases 331 Shares of Deere & Company $DE

Wallington Asset Management LLC lifted its position in shares of Deere & Company (NYSE:DE) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,714 shares of the industrial products company’s stock after acquiring an additional 331 shares during the quarter. Deere & Company makes up 1.9% of Wallington Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Wallington Asset Management LLC’s holdings in Deere & Company were worth $13,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Assenagon Asset Management S.A. boosted its stake in Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after purchasing an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares during the period. Providence Capital Advisors LLC boosted its stake in Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares during the period. Bragg Financial Advisors Inc boosted its stake in Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after purchasing an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new position in Deere & Company in the 1st quarter worth about $13,588,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DE shares. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Saturday, September 27th. Wolfe Research cut their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday. Robert W. Baird cut their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. 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, September 25th. Finally, Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $518.18.

Deere & Company Stock Performance

Shares of NYSE DE opened at $462.59 on Friday. The stock has a market cap of $125.05 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 2.97 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The stock’s 50-day moving average is $484.64 and its 200 day moving average is $489.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $6.29 EPS. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) 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.