BNC Wealth Management LLC Raises Holdings in Deere & Company (NYSE:DE)

BNC Wealth Management LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 1,396.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,039 shares of the industrial products company’s stock after acquiring an additional 8,435 shares during the period. Deere & Company makes up approximately 1.5% of BNC Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. BNC Wealth Management LLC’s holdings in Deere & Company were worth $4,242,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company in the 4th quarter valued at $39,000. Dogwood Wealth Management LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $42,000. Wood Tarver Financial Group LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $43,000. Finally, Sierra Ocean LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $509.04 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $137.86 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.14 and a beta of 1.09. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a 50 day moving average of $487.24 and a two-hundred day moving average of $468.51.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period last year, the firm earned $8.53 EPS. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Analyst Upgrades and Downgrades

DE has been the topic of several analyst reports. Argus set a $510.00 price target on Deere & Company in a report on Friday, March 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Bank of America upped their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Robert W. Baird upped their target price on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $515.19.

Deere & Company Profile

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.