Pinnacle Wealth Planning Services Inc. Raises Stock Position in Deere & Company $DE

Pinnacle Wealth Planning Services Inc. grew its stake in Deere & Company (NYSE:DE) by 18.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,682 shares of the industrial products company’s stock after buying an additional 260 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Deere & Company were worth $855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OLD National Bancorp IN increased its position in shares of Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares in the last quarter. Providence Capital Advisors LLC grew its stake in Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after buying an additional 303 shares during the last quarter. Bragg Financial Advisors Inc grew its stake in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in Deere & Company during the first quarter worth approximately $13,588,000. Finally, United Asset Strategies Inc. purchased a new stake in Deere & Company in the first quarter valued at approximately $2,496,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday. Truist Financial raised their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Oppenheimer reduced their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Finally, Robert W. Baird dropped their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $520.05.

Deere & Company Stock Down 0.1%

Shares of NYSE:DE opened at $475.90 on Tuesday. The company has a market cap of $128.65 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 3.05 and a beta of 1.04. The firm’s 50-day simple moving average is $465.93 and its 200-day simple moving average is $491.05. 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 has a fifty-two week low of $396.14 and a fifty-two week high of $533.78.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s payout ratio 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.