Deere & Company $DE Shares Acquired by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC grew its stake in shares of Deere & Company (NYSE:DE) by 17.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 900 shares of the industrial products company’s stock after purchasing an additional 131 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Deere & Company were worth $459,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Southland Equity Partners LLC grew its holdings in shares of Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares during the last quarter. Tyler Stone Wealth Management grew its holdings in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 21 shares during the last quarter. McLean Asset Management Corp grew its holdings in Deere & Company by 4.0% in the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after buying an additional 21 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in Deere & Company by 2.4% in the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock worth $434,000 after buying an additional 22 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

DE has been the subject of a number of recent analyst reports. Daiwa Capital Markets decreased their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Friday. Robert W. Baird decreased their price objective on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Truist Financial decreased their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company 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 stock has a fifty day moving average price of $489.67 and a two-hundred day moving average price of $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. The firm has a market cap of $125.41 billion, a P/E ratio of 24.25, a PEG ratio of 2.99 and a beta of 1.00. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last issued 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. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company posted $6.29 EPS. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given 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 dividend payout ratio is 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.