BIP Wealth LLC Decreases Stock Position in Deere & Company $DE

BIP Wealth LLC cut its stake in shares of Deere & Company (NYSE:DE) by 29.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 438 shares of the industrial products company’s stock after selling 184 shares during the quarter. BIP Wealth LLC’s holdings in Deere & Company were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. GAMMA Investing LLC grew its holdings in Deere & Company by 30.6% in the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock worth $1,753,000 after acquiring an additional 876 shares during the last quarter. Western Wealth Management LLC grew its holdings in Deere & Company by 25.3% in the 1st quarter. Western Wealth Management LLC now owns 1,111 shares of the industrial products company’s stock worth $521,000 after acquiring an additional 224 shares during the last quarter. Perpetual Ltd increased its position in shares of Deere & Company by 37.1% in the first quarter. Perpetual Ltd now owns 960 shares of the industrial products company’s stock valued at $451,000 after acquiring an additional 260 shares during the period. Finally, Beacon Financial Advisory LLC raised its stake in shares of Deere & Company by 8.7% during the first quarter. Beacon Financial Advisory LLC now owns 549 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 44 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. Truist Financial raised their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group cut their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Robert W. Baird reduced their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Trading Up 0.8%

NYSE DE opened at $473.01 on Friday. The firm has a market capitalization of $127.87 billion, a PE ratio of 24.73, a P/E/G ratio of 3.04 and a beta of 1.02. The stock’s 50 day moving average is $469.88 and its 200 day moving average is $489.02. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. 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 announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.29 earnings per share. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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.