Weatherly Asset Management L. P. Purchases 2,800 Shares of Deere & Company (NYSE:DE)

Weatherly Asset Management L. P. grew its position in Deere & Company (NYSE:DE) by 23.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,946 shares of the industrial products company’s stock after acquiring an additional 2,800 shares during the period. Weatherly Asset Management L. P.’s holdings in Deere & Company were worth $6,257,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC increased its holdings in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Fairscale Capital LLC bought a new position in Deere & Company in the 2nd quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR raised its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DE shares. JPMorgan Chase & Co. lifted their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley dropped their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial increased their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

Shares of DE opened at $400.42 on Friday. The firm has a market capitalization of $109.55 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The stock has a 50 day moving average price of $400.85 and a two-hundred day moving average price of $385.54.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the firm earned $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.47%. Deere & Company’s dividend payout ratio is currently 20.06%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.