Jackson Wealth Management LLC Purchases New Position in Deere & Company $DE

Jackson Wealth Management LLC purchased a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 915 shares of the industrial products company’s stock, valued at approximately $465,000.

Several other large investors have also added to or reduced their stakes in DE. Nuveen LLC bought a new position in Deere & Company in the 1st quarter valued at about $571,073,000. Voya Investment Management LLC lifted its position in Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after acquiring an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares in the last quarter. Invesco Ltd. lifted its position in Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Deere & Company by 874.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock valued at $124,028,000 after acquiring an additional 218,893 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DE shares. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Wolfe Research dropped their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial dropped their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Oppenheimer dropped their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Finally, Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Trading Up 0.2%

Shares of DE stock opened at $462.59 on Friday. The company has a 50 day moving average of $484.64 and a 200-day moving average of $489.09. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The firm has a market cap of $125.05 billion, a P/E ratio of 24.18, a PEG ratio of 2.97 and a beta of 1.02.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business posted $6.29 EPS. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

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.