Welch & Forbes LLC Acquires 543 Shares of Deere & Company $DE

Welch & Forbes LLC raised its holdings in Deere & Company (NYSE:DE) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,386 shares of the industrial products company’s stock after acquiring an additional 543 shares during the quarter. Welch & Forbes LLC’s holdings in Deere & Company were worth $3,247,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after purchasing an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Deere & Company by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after acquiring an additional 35,075 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after acquiring an additional 25,725 shares during the period. Finally, Invesco Ltd. boosted its holdings in Deere & Company by 23.4% in the first 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 during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 0.9%

NYSE:DE opened at $461.41 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $124.73 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 3.05 and a beta of 1.02. The firm has a fifty day simple moving average of $467.74 and a two-hundred day simple moving average of $489.95. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

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

Deere & Company Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DE shares. Royal Bank Of Canada started coverage on shares of Deere & Company in a report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price target for the company. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Citigroup cut their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Daiwa Capital Markets decreased their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Finally, Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $518.72.

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.