Alaethes Wealth LLC Grows Stock Holdings in Deere & Company (NYSE:DE)

Alaethes Wealth LLC grew its holdings in Deere & Company (NYSE:DE) by 3.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,087 shares of the industrial products company’s stock after buying an additional 128 shares during the period. Alaethes Wealth LLC’s holdings in Deere & Company were worth $1,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DE. True Wealth Design LLC increased its stake in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Pineridge Advisors LLC increased its position in shares of Deere & Company by 725.0% during 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. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 4th quarter valued at $30,000. Spartan Planning & Wealth Management bought a new stake in Deere & Company in the fourth quarter worth $33,000. Finally, Core Wealth Advisors Inc. boosted its stake in Deere & Company by 466.7% during the fourth quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock worth $34,000 after buying an additional 70 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following 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 can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Trading Down 0.9 %

NYSE:DE opened at $405.89 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46. The firm has a 50 day moving average of $376.24 and a 200 day moving average of $382.66. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $111.85 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued 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 business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the firm posted $10.20 earnings per share. The business’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DE. Raymond James started coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. Citigroup dropped their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Evercore ISI increased their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $409.88.

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.