Firethorn Wealth Partners LLC Boosts Stake in Deere & Company $DE

Firethorn Wealth Partners LLC raised its position in Deere & Company (NYSE:DE) by 32.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 656 shares of the industrial products company’s stock after buying an additional 162 shares during the period. Firethorn Wealth Partners LLC’s holdings in Deere & Company were worth $334,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gutierrez Wealth Advisory LLC increased its stake in Deere & Company by 2.1% in the 2nd quarter. Gutierrez Wealth Advisory LLC now owns 1,147 shares of the industrial products company’s stock valued at $583,000 after buying an additional 24 shares during the last quarter. Financial Insights Inc. purchased a new stake in Deere & Company in the 2nd quarter valued at about $204,000. Elevate Capital Advisors LLC increased its stake in Deere & Company by 1.4% in the 2nd quarter. Elevate Capital Advisors LLC now owns 3,206 shares of the industrial products company’s stock valued at $1,630,000 after buying an additional 44 shares during the last quarter. Ameriflex Group Inc. increased its stake in Deere & Company by 8.9% in the 2nd quarter. Ameriflex Group Inc. now owns 577 shares of the industrial products company’s stock valued at $293,000 after buying an additional 47 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Deere & Company by 8.7% during the 2nd quarter. QRG Capital Management Inc. now owns 40,092 shares of the industrial products company’s stock valued at $20,386,000 after acquiring an additional 3,199 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.2%

DE opened at $462.59 on Friday. The company has a 50 day moving average of $484.64 and a 200 day moving average of $489.15. The company has a market cap of $125.05 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the firm earned $6.29 EPS. On average, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research report on Tuesday, August 19th. Truist Financial reduced their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Finally, Robert W. Baird reduced their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

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.