Cornerstone Wealth Group LLC Acquires 37 Shares of Deere & Company $DE

Cornerstone Wealth Group LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,412 shares of the industrial products company’s stock after purchasing an additional 37 shares during the period. Cornerstone Wealth Group LLC’s holdings in Deere & Company were worth $1,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Deere & Company during the first quarter worth $29,000. Cornerstone Planning Group LLC lifted its stake in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in Deere & Company during the second quarter worth $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the second quarter worth $39,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $439.00 on Tuesday. The company has a market capitalization of $118.67 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.87 and a beta of 1.02. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a fifty day simple moving average of $477.70 and a 200 day simple moving average of $488.26. 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 posted 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 business had revenue of $10.36 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $6.29 earnings per share. Sell-side analysts expect 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 Monday, November 10th. Shareholders 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 yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Citigroup lowered their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. Truist Financial upped their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. Wolfe Research lowered their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Finally, Jefferies Financial Group lowered their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $513.88.

Deere & Company 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.