MBE Wealth Management LLC Invests $209,000 in Deere & Company (NYSE:DE)

MBE Wealth Management LLC purchased a new position in Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 500 shares of the industrial products company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Fairscale Capital LLC purchased a new position in Deere & Company in the second quarter worth about $26,000. Olistico Wealth LLC purchased a new position in Deere & Company in the second quarter worth about $37,000. Financial Synergies Wealth Advisors Inc. grew its position in Deere & Company by 2,500.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares in the last quarter. Finally, Centennial Bank AR grew its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Truist Financial lifted their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Down 0.1 %

NYSE:DE traded down $0.27 during trading hours on Monday, reaching $408.46. The company’s stock had a trading volume of 224,583 shares, compared to its average volume of 1,464,388. The company has a market capitalization of $112.56 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a 50 day moving average price of $393.03 and a two-hundred day moving average price of $385.26.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.20 earnings per share. Equities analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

About Deere & Company

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.