McLean Asset Management Corp Makes New Investment in Deere & Company (NYSE:DE)

McLean Asset Management Corp acquired a new position in shares of Deere & Company (NYSE:DE) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 491 shares of the industrial products company’s stock, valued at approximately $200,000.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position 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 period. Pineridge Advisors LLC raised its position 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 buying an additional 58 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the second quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $33,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DE. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup reduced their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Truist Financial reiterated a “buy” rating and issued a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Bank of America raised their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Morgan Stanley cut their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $410.50.

Deere & Company Stock Down 0.5 %

Shares of NYSE DE traded down $1.95 during midday trading on Monday, hitting $406.04. The company’s stock had a trading volume of 919,322 shares, compared to its average volume of 1,498,547. The business’s fifty day simple moving average is $383.08 and its two-hundred day simple moving average is $385.09. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The firm has a market capitalization of $111.89 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

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

Deere & Company Announces Dividend

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

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.