Turtle Creek Wealth Advisors LLC Takes Position in Deere & Company (NYSE:DE)

Turtle Creek Wealth Advisors LLC purchased a new position in Deere & Company (NYSE:DE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 488 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other large investors have also recently made changes to their positions in the company. Pineridge Advisors LLC boosted its holdings in Deere & Company by 725.0% in the 1st 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 purchased a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new position in Deere & Company in the second quarter worth approximately $37,000. Finally, Centennial Bank AR increased its stake in Deere & Company by 420.0% during 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 during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE opened at $398.95 on Friday. The firm has a market capitalization of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.48 and a beta of 0.93. The firm’s fifty day simple moving average is $404.03 and its 200-day simple moving average is $385.65. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings results 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 return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date of this dividend was 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%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DE. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Truist Financial lifted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $420.69.

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.