Hennion & Walsh Asset Management Inc. Purchases 147 Shares of Deere & Company (NYSE:DE)

Hennion & Walsh Asset Management Inc. boosted its position in Deere & Company (NYSE:DE) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,617 shares of the industrial products company’s stock after acquiring an additional 147 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Deere & Company were worth $3,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia grew its holdings in shares of Deere & Company by 2.2% in the third quarter. Bank of Nova Scotia now owns 54,660 shares of the industrial products company’s stock worth $20,625,000 after purchasing an additional 1,199 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Deere & Company during the third quarter worth about $101,000. Morningstar Investment Services LLC purchased a new stake in shares of Deere & Company during the third quarter worth about $413,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Deere & Company during the third quarter worth about $232,000. Finally, Ancora Advisors LLC boosted its holdings in shares of Deere & Company by 5.8% during the third quarter. Ancora Advisors LLC now owns 925 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 51 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $373.63 on Friday. The company has a market capitalization of $102.96 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm has a 50 day moving average of $385.32 and a 200 day moving average of $387.21. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $9.65 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DE shares. DA Davidson dropped their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Raymond James began coverage on shares of Deere & Company in a report on Friday. They issued an “outperform” rating and a $420.00 price objective for the company. Citigroup began coverage on shares of Deere & Company in a report on Wednesday. They issued a “neutral” rating and a $395.00 price objective for the company. Finally, TD Cowen raised their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $430.55.

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.