Wealth Enhancement Trust Services Inc. Takes Position in Deere & Company $DE

Wealth Enhancement Trust Services Inc. acquired a new position in Deere & Company (NYSE:DE) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,248 shares of the industrial products company’s stock, valued at approximately $1,978,000.

Other large investors have also modified their holdings of the company. Capital World Investors raised its holdings in Deere & Company by 5.5% in the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after acquiring an additional 322,582 shares during the period. Fisher Asset Management LLC boosted its holdings in Deere & Company by 5.5% during the third quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock valued at $1,244,670,000 after acquiring an additional 141,790 shares during the period. Invesco Ltd. boosted its holdings in Deere & Company by 21.7% during the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock valued at $829,930,000 after acquiring an additional 323,512 shares during the period. Legal & General Group Plc grew its position in shares of Deere & Company by 7.6% in the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock valued at $755,385,000 after purchasing an additional 115,975 shares during the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd grew its position in shares of Deere & Company by 1.5% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,196,643 shares of the industrial products company’s stock valued at $547,177,000 after purchasing an additional 17,785 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DE shares. Citigroup cut their price objective on Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research report on Monday, March 9th. JPMorgan Chase & Co. raised their target price on Deere & Company from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $765.00 price target on shares of Deere & Company in a research report on Monday, February 23rd. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Robert W. Baird reduced their price objective on Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Stock Up 1.0%

Shares of DE stock opened at $590.10 on Friday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The stock has a fifty day moving average price of $595.10 and a 200 day moving average price of $521.74. The stock has a market cap of $159.39 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 2.04 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s payout ratio is presently 36.53%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.