Ritholtz Wealth Management raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 34.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,606 shares of the industrial products company's stock after purchasing an additional 1,187 shares during the quarter. Ritholtz Wealth Management's holdings in Deere & Company were worth $2,162,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Morey & Quinn Wealth Partners LLC boosted its stake in Deere & Company by 12.3% in the 1st quarter. Morey & Quinn Wealth Partners LLC now owns 2,739 shares of the industrial products company's stock valued at $1,286,000 after purchasing an additional 300 shares during the period. Dohj LLC boosted its position in shares of Deere & Company by 0.9% in the first quarter. Dohj LLC now owns 4,837 shares of the industrial products company's stock valued at $2,270,000 after acquiring an additional 44 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Deere & Company in the first quarter valued at about $78,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Deere & Company by 0.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,020 shares of the industrial products company's stock valued at $42,250,000 after acquiring an additional 826 shares in the last quarter. Finally, Tritonpoint Wealth LLC increased its position in Deere & Company by 13.4% during the first quarter. Tritonpoint Wealth LLC now owns 769 shares of the industrial products company's stock worth $362,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.
Wall Street Analysts Forecast Growth
DE has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Oppenheimer raised their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Finally, Truist Financial raised their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $515.19.
View Our Latest Stock Analysis on DE
Deere & Company Price Performance
Shares of NYSE DE traded up $1.90 during mid-day trading on Wednesday, hitting $525.02. 959,476 shares of the stock traded hands, compared to its average volume of 1,390,816. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The firm has a 50 day simple moving average of $490.87 and a two-hundred day simple moving average of $469.33. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a market cap of $142.19 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 3.32 and a beta of 1.09.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the business posted $8.53 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.
Deere & Company Profile
(
Free Report)
Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.
Recommended Stories
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
